LME aluminium gains; 3-month offer at USD 2,688.5/t, alumina slips 3.5%
London Metal Exchange (LME) aluminium prices inched up on October 1 compared to the previous day.
Both the cash bid and offer price rose by USD 15 per tonne or 0.6 per cent and settled at USD 2,683 per tonne and USD 2,683.5 per tonne, respectively.
A similar trend was followed in the LME 3-month bid and offer price when it went up by USD 10.5 per tonne or 0.4 per cent to USD 2,687.5 per tonne and USD 2,688.5 per tonne.
Further out, the December 26 contract also elevated, with the bid and offer price escalating by USD 8 per tonne or 0.2 per cent to USD 2,728 per tonne and USD 2,733 per tonne.
The LME aluminium 3-month Asian Reference Price inched up by USD 8 per tonne or 0.2 per cent and is currently at USD 2,688.5 per tonne.
On the inventory front, LME opening stock increased to 513,425 tonnes from 511,425 tonnes a day earlier. Live warrants showed no change and are at 412,675 tonnes, while cancelled warrants fell to 98,750 tonnes, indicating a further decline in cancelled positions.
The LME alumina Platts price fell by USD 11.66 per tonne or 3.5 per cent and stood at USD 321 per tonne.
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