LME aluminium cash price rises 0.60% to $3,079.5/t on July 3 as stocks decline further

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LME aluminium prices moved up across cash and three-month contracts on July 3, while exchange opening stocks declined from the previous trading day. Forward prices also strengthened, with live warrants remaining unchanged and cancelled warrants falling.

The LME aluminium cash bid price stood at USD 3,079.5 per tonne on July 3, up 0.60 per cent from USD 3,061 per tonne on July 2. The cash offer price also increased by 0.60 per cent to USD 3,080 per tonne from USD 3,061.5 per tonne.

Similarly, the LME aluminium three-month bid price rose by 0.70 per cent to USD 3,086 per tonne on July 3 from USD 3,064.5 per tonne on July 2. The three-month offer price increased by 0.72 per cent to USD 3,087 per tonne from USD 3,065 per tonne.

For the December 2027 contract, the bid price stood at USD 3,022 per tonne on July 3, up 0.40 per cent from USD 3,010 per tonne on July 2. The December 2027 offer price also increased by 0.40 per cent to USD 3,027 per tonne from USD 3,015 per tonne.

The LME aluminium three-month Asian Reference Price stood at USD 3,090.5 per tonne on July 3.

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On the inventory front, LME aluminium opening stocks declined by 0.50 per cent to 300,275 tonnes on July 3 from 301,775 tonnes on July 2. Live warrants remained unchanged at 246,600 tonnes on both days.

Cancelled warrants fell by 2.79 per cent to 52,175 tonnes on July 3 from 53,675 tonnes on July 2.

Meanwhile, the LME alumina Platts price stood at USD 330 per tonne.

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