LME aluminium inched higher on November 13 across cash, 3-month and December contracts, with exchange stocks also showing a modest increase.
The cash bid price rose to USD 2,874 per tonne on November 13 from USD 2,855.50 per tonne on November 12 — an increase of 0.65 per cent. The cash offer also inched up to USD 2,876 per tonne, up 0.70 per cent from USD 2,856 per tonne the day before.
The 3-month bid climbed to USD 2,899.50 per tonne, a 0.40 per cent rise from USD 2,888 per tonne on November 12, while the 3-month offer moved to USD 2,900 per tonne, up 0.38 per tonne from USD 2,889 per tonne.
The December 26 contract also strengthened, with the bid price at USD 2,925.50 per tonne, up 0.19 per cent from USD 2,920 per tonne, and the offer rising to USD 2,930 per tonne, marking a 0.17 per cent gain from USD 2,925 per tonne.
LME aluminium 3-month Asian Reference Price stood at USD 2896.5 per tonne on November 13.
On the stock front, LME aluminium opening inventories increased to 553,200 tonnes on November 13 from 544,075 tonnes recorded on November 12 — a rise of 1.68 per cent.
Live warrants stood at 521,525 tonnes, up 2.18 per cent, while cancelled warrants fell to 31,675 tonnes, down 5.94 per cent compared to previous day.
The LME Alumina Platts price was assessed at USD 319.25 per tonne.
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