On October 29, LME aluminium prices strengthened, reflecting steady demand and market optimism.
The cash bid price rose to USD 2,891 per tonne, up 1.14 per cent from USD 2,858.5 per tonne on October 28, while the cash offer increased by a similar margin to USD 2,891.5 per tonne from USD 2,859 per tonne.
The three-month aluminium contract also advanced, with the bid price climbing 1.08 per cent to USD 2,891.5 per tonne and the offer price reaching USD 2,892 per tonne, compared with USD 2,860.5 and USD 2,861 per tonne, respectively, a day earlier.
For forward contracts, the December 26 bid stood at USD 2,903 per tonne and the offer at USD 2,908 per tonne, up from USD 2,885 and USD 2,890 per tonne, respectively, on October 28.
The LME aluminium three-month Asian Reference Price settled at USD 2,887 per tonne on October 29.
In terms of inventory, LME aluminium opening stock declined slightly from 465,650 tonnes on October 28 to 462,750 tonnes on October 29. Live warrants were unchanged at 404,675 tonnes, while cancelled warrants slipped to 58,075 tonnes.
Meanwhile, the LME alumina Platts price stood at USD 319.16 per tonne.
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