The London Metal Exchange (LME) aluminium prices on November 27 showed a slight uptick. On the other hand, the LME inventory showed a mixed trend.
The LME cash bid and offer moved up by USD 18.5 per tonne or 0.65 per cent, where each reached USD 2,803.5 per tonne and USD 2,804 per tonne.
The 3-month contract also strengthened, where both the bid and offer inched up by USD 20.5 per tonne or 0.7 per cent to finally settle at USD 2,827.5 per tonne and USD 2,828 per tonne, respectively.
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A similar trend is seen in the December 26 contract, where both on November 27 increased by USD 16 per tonne or 0.55 per cent, with a bid at USD 2,862 per tonne and an offer at USD 2,867 per tonne.
The LME aluminium 3-month Asian Reference Price declined from USD 2,861 per tonne to USD 2,828.5 per tonne, showing a decrease of USD 32.5 per tonne or 1.1 per cent.
At the inventory front, the opening stock on November 27 recorded 541,050 tonnes, down by 675 tonnes or 0.1 per cent. On the other hand, the live warrant expanded to 485,575 tonnes, up by 1,475 tonnes or 0.3 per cent. However, the cancelled warrant moved down to 55,475 tonnes, a slip of 2,150 tonnes or 3.7 per cent.
The LME alumina Platts price was assessed at USD 319.15 per tonne.
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