On November 11, LME aluminium prices recorded minor declines across key contracts compared to November 10.
The cash bid price stood at USD 2,840 per tonne, down 0.94 per cent from USD 2,867 per tonne a day earlier, while the cash offer slipped 0.92 per cent to USD 2,841 per tonne, compared with USD 2,867.5 per tonne previously.
For the 3-month contract, the bid price fell 0.61 per cent to USD 2,865 per tonne from USD 2,882.5 per tonne, and the offer price eased 0.59 per cent to USD 2,866 per tonne, down from USD 2,883 per tonne.
The December 26 contract also weakened, with the bid at USD 2,897 per tonne, marking a 0.38 per cent drop from USD 2,908 per tonne, while the offer price decreased to USD 2,867.5 per tonne from USD 2,913 per tonne, representing a decline of 1.56 per cent.
In inventories, the LME aluminium opening stock slipped from 547,225 tonnes on November 10 to 545,225 tonnes on November 11. Live warrants remained steady at 509,550 tonnes, while cancelled warrants declined from 37,675 tonnes to 35,675 tonnes.
The LME aluminium 3-month Asian Reference Price stood at USD 2,619.50 per tonne on November 11, and the LME alumina Platts price held firm at USD 319.25 per tonne.
Explore our B2B marketplace - AL Biz
Responses
