LME aluminium cash offer price rises to $3,014/t as stocks edge lower to 238,125t
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London Metal Exchange (LME) aluminium prices increased on October 16 compared with the previous day, October 15, across cash, three-month and December 27 contracts.
The LME aluminium cash bid price increased by 0.48 per cent to USD 3,013 per tonne on October 16 from USD 2,998.50 per tonne on October 15. The cash offer price rose by 0.50 per cent to USD 3,014 per tonne from USD 2,999 per tonne.
The three-month contract also recorded gains. The bid price increased by 0.58 per cent to USD 3,011.50 per tonne from USD 2,994 per tonne, while the offer price rose by 0.58 per cent to USD 3,012 per tonne from USD 2,994.50 per tonne.
For the December 27 contract, the bid price climbed by 0.57 per cent to USD 2,975 per tonne from USD 2,958 per tonne. The offer price increased by 0.57 per cent to USD 2,980 per tonne from USD 2,963 per tonne.
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The LME aluminium three-month Asian Reference Price stood at USD 3,100.50 per tonne on October 16.
LME aluminium opening stocks fell by 0.10 per cent to 238,125 tonnes on October 16 from 238,375 tonnes on October 15.
Live warrants remained unchanged at 221,350 tonnes, while cancelled warrants declined by 1.49 per cent to 16,525 tonnes from 16,775 tonnes.
Meanwhile, the LME alumina Platts price stood at USD 382.34 per tonne.
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