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24 JUNE 2026 AL CIRCLE

LME aluminium cash price drops 4.16% to a three-month low of $3,263.5/t as Gulf supply concerns ease

EDITED BY : ARANYA MONDAL 2MINS READ

LME aluminium cash price drops 4.16% to a three-month low of $3,263.5/t as Gulf supply concerns ease

The image used in this article is generated with an AI tool and does not depict any real-time moment

Aluminium prices on the London Metal Exchange (LME) fell sharply on June 23, reaching their lowest level in nearly three months after the United States granted Iran a 60-day sanctions waiver following preliminary peace talks. The development improved expectations for the resumption of trade flows through the Strait of Hormuz, easing concerns over supply disruptions that had previously supported aluminium prices.

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The LME aluminium cash bid price declined to USD 3,263 per tonne on June 23 from USD 3,403 per tonne on June 22, marking a 4.11 per cent drop. The cash offer price fell to USD 3,263.5 per tonne from USD 3,405 per tonne, a decline of 4.16 per cent.

The benchmark three-month aluminium contract also contracted. The three-month bid price dropped to USD 3,269 per tonne from USD 3,405 per tonne, down 3.99 per cent, while the three-month offer price slipped to USD 3,271 per tonne from USD 3,406 per tonne, a decrease of 3.96 per cent.

Further along the curve, the December 2027 contract softened as well. The bid price fell to USD 3,115 per tonne from USD 3,180 per tonne, while the offer price eased to USD 3,120 per tonne from USD 3,185 per tonne, representing declines of approximately 2.04 per cent in both cases.

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Longer-dated contracts reported recovery as well. Both the December 2027 bid price inched up by 0.16 per c

The LME aluminium three-month Asian Reference Price stood at USD 3,232.5 per tonne on June 23, reflecting the broader weakness across the aluminium market.

Inventory data showed a modest reduction in exchange stocks. LME aluminium opening stocks decreased to 313,800 tonnes on June 23 from 315,300 tonnes on June 22, a decline of 1,500 tonnes, or 0.48 per cent.

Live warrants remained unchanged at 247,575 tonnes. However, cancelled warrants fell to 64,150 tonnes from 66,225 tonnes, a decrease of 2,075 tonnes, or 3.13 per cent, indicating a lower volume of metal earmarked for withdrawal from LME warehouses.

Meanwhile, the LME alumina Platts price stood at USD 307.10 per tonne.

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Last updated on : 24 JUNE 2026

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EDITED BY : ARANYA MONDAL 2MINS READ

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