The start of the week reflected an enhanced London Metal Exchange (LME) aluminium price, but the following represented a dip in the LME, where cash, 3-month contract and forward contract dipped significantly.
Both the LME cash bid and offer fell by USD 14.5 per tonne or 0.5 per cent, down from USD 2,852.5 per tonne to USD 2,838 per tonne and from USD 2,853 per tonne to USD 2,838.5 per tonne, respectively.
The three-month contract also declined on November 5, with the bid falling by USD 14.5 per tonne or 0.5 per cent to USD 2,846 per tonne and the offer down by USD 15 per tonne or 0.52 per cent to USD 2,846.5 per tonne.
To know more about the aluminium extrusion and its forecast till 2032, read “The World of Aluminium Extrusions – Industry Forecast to 2032”
For forward contracts, both the December 26 bid and offer dropped by USD 10 per tonne or 0.34 per cent, where the bid was USD 2,868 per tonne and the offer stood at USD 2,873 per tonne.
The LME aluminium 3-month Asian Reference Price went down by USD 9 per tonne or 0.31 per cent and stood at USD 2,850 per tonne on November 05.
Inventories on the LME saw a slight decrease when both the opening stocks and cancelled warrants fell by 2,125 tonnes or 0.4 per cent and each stood at 550,450 tonnes and 43,500 tonnes. The live warrant showed no change from the previous close on October 31.
The LME alumina Platts price stood at USD 315 per tonne, reflecting no change from the previous day's close.
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