Aluminium prices edged higher on the London Metal Exchange (LME) on October 21, supported by tighter stock levels and steady demand trends.
The LME aluminium cash bid stood at USD 2,780 per tonne, up 0.32 per cent from the previous day’s USD 2,771, while the cash offer increased 0.29 per cent to USD 2,781 per tonne.
The three-month contract also gained ground, with the bid rising 0.61 per cent to USD 2,782 per tonne and the offer up 0.61 per cent to USD 2,783 per tonne.
Further out, the December 26 contract advanced the most, with the bid up 0.82 per cent to USD 2,815 per tonne and the offer at USD 2,820 per tonne, also up 0.82 per cent from October 20. The LME 3-month Asian Reference Price was reported at USD 2,781 per tonne.
On the inventory front, LME aluminium opening stocks declined 0.62 per cent to 484,125 tonnes, while live warrants held steady at 405,650 tonnes. Cancelled warrants, however, fell sharply by 8.30 per cent to 78,475 tonnes, signalling potential moderation in physical demand.
The LME alumina Platts price stood at USD 318.18 per tonne.
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