LME aluminium price chart rises further to $3,325/t; stocks remain stable

The London Metal Exchange (LME) aluminium price chart continues to record an upward trend across the pricing and contract segments on the September 8 trading session, reporting gains over the September 7 close. Opening stocks remained stable, not reporting any further decline.

The LME aluminium cash bid jumped from USD 3,308 per tonne to USD 3,324 per tonne, rising 0.48 per cent. The offer price moved from USD 3,310 per tonne to USD 3,325 per tonne, increasing by 0.45 per cent.

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The LME aluminium three-month bid advanced from USD 3,307 per tonne from USD 3,318.5 per tonne, rising by 0.35 per cent. The offer price surged from USD 3,308 per tonne to USD 3,319 per tonne, representing a 0.33 per cent gain.

The forward curve remained consistent in the longer-dated contracts as both the December 27 bid and offer prices reported a 0.25 per cent gain. The bid, surging to USD 3,223 per tonne from USD 3,215 per tonne, and the offer closed at USD 3,228 per tonne, rising from USD 3,220 per tonne.

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The LME aluminium three-month Asian Reference Price closed at USD 3,341 per tonne on September 8.

On the aluminium inventory front, the LME aluminium opening stocks reported no change from the 244,525 tonnes recorded on September 7.

Live warrants decreased by 0.41 per cent from 241,775 tonnes to 240,775 tonnes.

Cancelled warrants continued to improve and closed at 3,750 tonnes marking a gain over 2,750 tonnes by 36.36 per cent.

LME alumina Platts remained stable at USD 350.09 per tonne on September 8.

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