Aluminium prices on the London Metal Exchange (LME) moved sharply higher on November 19, driven mainly by gains in nearby contracts, while the forward curve showed mixed signals.

The LME aluminium cash bid price climbed to USD 2,895.50 per tonne on November 19, up USD 43.50, or 1.53 per cent, from USD 2,852 per tonne on November 18. The cash offer price also rose to USD 2,896 per tonne, marking an increase of USD 43.50, or 1.52 per cent, from the previous day’s USD 2,852.50 per tonne.

In contrast, prices for the three-month aluminium contract weakened. On November 19, the three-month bid and offer stood at USD 2,852 per tonne and USD 2,852.50 per tonne, respectively. This represented a decline of 1.52 per cent and 1.57 per cent drop, respectively from November 18 levels, when the three-month bid was USD 2,896 per tonne and the offer was USD 2,898 per tonne.

To know about 2026 aluminium industry trend, visit: Global Aluminium Industry Outlook 2026.

Further along the curve, the December 2026 aluminium contract strengthened. On November 19, the bid price rose to USD 2,967 per tonne, up USD 44, or 1.51%, from USD 2,923 per tonne on November 18. The offer price increased to USD 2,972 per tonne, gaining USD 44, or 1.50 per cent, compared with USD 2,928 per tonne a day earlier.

For longer-term context, the LME aluminium three-month Asian Reference Price tood at USD 2,619.50 per tonne on November 19.

On the supply side, LME aluminium stocks remained unchanged between the two sessions. Opening inventories stood at 519,600 tonnes on both November 18 and November 19. Live warrants were steady at 445,800 tonnes, while cancelled warrants held at 73,800 tonnes, indicating no immediate shift in physical availability.

Meanwhile, the LME alumina Platts price stood at USD 310.48 per tonne.

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