LME aluminium offer price rises to $3,134.5/t as stocks remain unchanged at 240,375t

LME aluminium prices moved higher on October 6 compared with the previous trading day, with cash and three-month prices rising by nearly 1 per cent. The increase came as LME aluminium opening stocks remained unchanged, while live warrants declined and cancelled warrants increased.

On October 6, the LME aluminium cash bid price stood at USD 3,134 per tonne, up 0.90 per cent from USD 3,106 per tonne on October 5. The cash offer price stood at USD 3,134.5 per tonne, compared with USD 3,107 per tonne on October 5, marking a 0.89 per cent increase.

The LME aluminium three-month bid price rose to USD 3,148 per tonne on October 6 from USD 3,117.5 per tonne on October 5, an increase of 0.98 per cent. The corresponding three-month offer price increased to USD 3,148.5 per tonne from USD 3,118 per tonne, also up 0.98 per cent.

For the December 27 contract, the bid price increased to USD 3,095 per tonne on October 6 from USD 3,065 per tonne on October 5, representing a 0.98 per cent rise. The offer price stood at USD 3,100 per tonne, up 0.98 per cent from USD 3,070 per tonne.

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The LME aluminium three-month Asian Reference Price stood at USD 3,133.5 per tonne on October 6.

LME aluminium opening stocks remained at 240,375 tonnes on both October 5 and October 6.

However, the composition of stocks changed. Live warrants fell to 223,675 tonnes on October 6 from 226,675 tonnes on October 5, a decline of 1.32 per cent.

Meanwhile, cancelled warrants increased to 15,200 tonnes on October 6 from 13,700 tonnes on October 5, marking a 10.95 per cent increase.

The LME alumina Platts price stood at USD 372.84 per tonne.

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