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LME aluminium prices strengthened on July 29 compared with July 28, with gains recorded across the cash, three-month and December 2027 contracts, while exchange inventories continued to decline.
{alcircleadd}The LME aluminium cash bid price stood at USD 3,205 per tonne on July 29, up from USD 3,159 per tonne on July 28, marking an increase of 1.46 per cent. The cash offer price rose to USD 3,207 per tonne from USD 3,159.5 per tonne, an increase of 1.50 per cent.
The LME aluminium three-month bid price increased to USD 3,176 per tonne on July 29 from USD 3,143 per tonne a day earlier, up 1.05 per cent. The three-month offer price also climbed to USD 3,177 per tonne from USD 3,143.5 per tonne, registering a 1.07 per cent increase.
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For the forward contract, the December 2027 bid price rose to USD 3,113 per tonne on July 29 from USD 3,080 per tonne on July 28, an increase of 1.07 per cent. The December 2027 offer price advanced to USD 3,118 per tonne from USD 3,085 per tonne, also up 1.07 per cent.
Meanwhile, the LME aluminium three-month Asian Reference Price was assessed at USD 3,180 per tonne on July 29.
On the inventory front, LME aluminium opening stocks declined to 269,300 tonnes on July 29 from 271,275 tonnes on July 28, down 0.73 per cent.
Live warrants remained unchanged at 245,350 tonnes on both days, while cancelled warrants fell to 22,450 tonnes from 23,950 tonnes, a decline of 6.26 per cent.
The LME alumina Platts price stood at USD 337.38 per tonne.
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