Aluminium prices on the London Metal Exchange (LME) showed a steady upward movement on August 12, with both cash and forward contracts posting gains compared to the previous day.
The LME aluminium cash bid price climbed by 0.68 per cent to USD 2,603 per tonne from USD 2,585.5 on August 11, while the cash offer price rose 0.73 per cent to USD 2,605 per tonne from USD 2,586.5 per tonne.
Similarly, the 3-month bid price increased by 0.73 per cent to USD 2,610 per tonne and the 3-month offer price gained 0.81 per cent to USD 2,610.5 per tonne up from USD 2,591 per tonne and USD 2,591.5 per tonne respectively on August 11.
Forward contracts for December 2026 also saw modest gains, with the bid price rising 0.56 per cent to USD 2,658 per tonne and the offer price increasing 0.57 per cent to USD 2,663 per tonne.
Meanwhile, the LME aluminium 3-month Asian Reference Price experienced a more pronounced rise of 1.22 per cent, moving up to USD 2,619.5 per tonne on August 12 from USD 2,588 per tonne on August 11.
Also read: LME aluminium price slides down by $22.5/t; Opening stock climbs by 1.12%
On the inventory front, total opening stocks edged higher by 0.26 per cent to 477,100 tonnes on August 12 from 475,850 tonnes a day earlier.
Live warrants followed suit, increasing by 0.28 per cent to 462,875 tonnes, while cancelled warrants remained stable at 14,225 tonnes.
The alumina market remained steady, with the Platts price at USD 368.76 per tonne.
Note: To feature your brand and share insights, contribute an article or interview in our forthcoming e-magazine "American ALuminium Industry: The Path Forward".
Responses
