London Metal Exchange (LME) aluminium prices fell on August 18 as expanded US import tariffs and rising inventories pressured the market.
The LME aluminium cash bid price was USD 2,586 per tonne on August 18, down from USD 2,599 per tonne on August 15, while the cash offer price stood at USD 2,586.5 per tonne, compared with USD 2,600 per tonne previously — a decline of 0.50 per cent.
The 3-month contract declined 0.75 per cent, with the bid price at USD 2,582 per tonne and the offer price at USD 2,583 per tonne, compared to USD 2,601.5 and USD 2,602 per tonne earlier.
Forward contracts also weakened. The December 26 bid fell 0.68 per cent to USD 2,630 per tonne, while the offer slipped to USD 2,635 per tonne, down from USD 2,648 per tonne and USD 2,653 per tonne on August 15.
The LME aluminium 3-month Asian Reference Price was assessed at USD 2,588.5 per tonne.
Inventories edged slightly lower, with LME aluminium opening stock at 479,525 tonnes on August 18 versus 479,550 tonnes on August 15.
Live warrants rose to 465,475 tonnes from 465,450 tonnes, while cancelled warrants dipped to 14,050 tonnes from 14,100 tonnes.
The LME alumina Platts price stood at USD 370.12 per tonne.
The weakness was linked to Washington’s decision to expand its 50 per cent tariffs on aluminium imports to include hundreds of derivative products, effective August 18. The move triggered concerns over demand prospects. “Sentiment soured after Trump’s new tariff plans,” said a Singapore-based aluminium trader, adding that rising inventory levels further pressured prices.
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