Aluminium prices on the London Metal Exchange (LME) declined across the curve on April 2, reflecting a broad-based softening compared to the previous session.

The LME aluminium cash bid price fell to USD 3,504.5 per tonne on April 2 from USD 3,583 per tonne on April 1, marking a decline of 2.19 per cent. The cash offer price also dropped to USD 3,505 per tonne from USD 3,583.5 per tonne, down 2.19 per cent day-on-day.

Similarly, the 3-month contract registered a notable correction. The bid price decreased to USD 3,424 per tonne from USD 3,523 per tonne, a 2.81 per cent decline, while the offer price slipped to USD 3,425 per tonne from USD 3,525 per tonne, also down 2.84 per cent.

Further along the curve, the December 2027 contract weakened as well. The bid price declined to USD 2,945 per tonne from USD 2,998 per tonne, reflecting a 1.77 per cent drop, while the offer price fell to USD 2,950 per tonne from USD 3,003 per tonne, down 1.76 per cent.

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The LME aluminium 3-month Asian Reference Price stood at USD 3,469.50 per tonne on April 2.

Warehouse data indicated a marginal drawdown in inventories. LME aluminium opening stocks fell to 414,175 tonnes on April 2 from 416,775 tonnes on April 1, marking a 0.62 per cent decrease. Live warrants edged down to 269,200 tonnes from 269,700 tonnes, a 0.19 per cent decline, while cancelled warrants dropped to 142,750 tonnes from 144,475 tonnes, down 1.19 per cent.

Meanwhile, the LME alumina Platts price was assessed at USD 310.14 per tonne.

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