Aluminium prices on the London Metal Exchange (LME) moved lower on November 4, marking a modest decline across cash, three-month, and forward contracts.
The cash bid price fell 1.71 per cent to USD 2,852.50 per tonne, while the cash offer eased 1.72 per cent to USD 2,853 per tonne, compared with the previous day’s USD 2,902 per tonne and USD 2,903 per tonne respectively.
The three-month bid price declined 1.58 per cent to USD 2,860.50 per tonne, and the three-month offer edged down 1.57 per cent to USD 2,861.50 per tonne.
For forward contracts, the December 26 bid was USD 2,878 per tonne, and the offer stood at USD 2,883 per tonne, both down around 1.37 per cent from USD 2,918 per cent and USD 2,923 per tonne respectively.
The LME aluminium three-month Asian Reference Price was quoted at USD 2,859 per tonne.
On the inventory side, LME aluminium opening stock declined slightly to 552,575 tonnes on November 4 from 554,575 tonnes a day earlier.
Live warrants remained steady at 506,950 tonnes, while cancelled warrants fell from 47,625 tonnes to 45,625 tonnes.
The LME alumina Platts price stood at USD 315 per tonne.
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