

LME aluminium prices recorded gains on March 3 compared with March 2, while exchange inventories edged lower and cancelled warrants increased significantly. On March 3, the LME aluminium cash bid price stood at USD 3,267 per tonne, up from USD 3,225.5 per tonne on March 2 - an increase of USD 41.5 per tonne or 1.29 per cent. The cash offer price rose to USD 3,269 per tonne from USD 3,226 per tonne, marking a gain of USD 43 per tonne or 1.33 per cent.
{alcircleadd}The LME aluminium three-month contract also strengthened. The three-month bid price reached USD 3,260 per tonne on March 3, compared with USD 3,232 per tonne a day earlier, reflecting an increase of USD 28 per tonne or 0.87 per cent. Meanwhile, the three-month offer price climbed to USD 3,260.5 per tonne from USD 3,233 per tonne, up USD 27.5 per tonne or 0.85 per cent.
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For longer-dated contracts, the December 2027 bid price stood at USD 3,132 per tonne on March 3, slightly down from USD 3,133 per tonne on March 2, a marginal decline of USD 1 per tonne or 0.03 per cent. The December 2027 offer price also edged lower to USD 3,137 per tonne from USD 3,138 per tonne, down USD 1 per tonne or 0.03 per cent.
The LME aluminium three-month Asian Reference Price for March 3 was assessed at USD 3,251 per tonne.
On the inventory side, LME aluminium opening stocks fell to 463,550 tonnes on March 3, compared with 465,550 tonnes on March 2, representing a decline of 2,000 tonnes or 0.43 per cent.
Live warrants dropped sharply to 375,525 tonnes from 420,850 tonnes, a decrease of 45,325 tonnes or 10.77 per cent. In contrast, cancelled warrants jumped significantly to 86,025 tonnes, up from 42,700 tonnes the previous day - an increase of 43,325 tonnes or 101.46 per cent.
Meanwhile, the LME alumina Platts price stood at USD 305 per tonne.
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