LME aluminium price climbs to $3,294.5/t, despite backward curve pressure

After two days of declining price trend, on March 24, the London Metal Exchange (LME) aluminium price rose significantly. However, the longer-dated contracts were deduced from the previous season. The LME alumina platts price also rose from the last day. 

Both the LME cash bid and offer rose by USD 52 per tonne or 2 per cent, where the bid shifted from USD 3,242 per tonne to USD 3,294 per tonne. Similarly, the offer moved from USD 3,242.5 per tonne to USD 3,294.5 per tonne. 

Must read: Key industry individuals share their thoughts on the trending topics

The LME 3-month bid expanded by USD 28 per tonne or 1 per cent, changing from USD 3,217 per tonne to USD 3,245 per tonne. A similar trend is seen in the 3-month offer price, which gained by USD 29 per tonne or 1 per cent, from USD 3,218 per tonne to USD 3,247 per tonne. 

A reverse movement is seen in the LME longer dated contracts when the December 27 bid and offer declined by USD 20 or 1 per cent. On March 25, the December 27 bid dipped from USD 2,965 per tonne to USD 2,945 per tonne and at the same time, the December 27 offer slipped from USD 2,970 per tonne to USD 2,950 per tonne. 

Don’t miss out- Buyers are looking for your products on our B2B platform

Again, the downward trend is seen in the 3-month Asian Preference Price, which decreased by USD 17.5 per tonne or 0.5 per cent, shifting from USD 3,260 per tonne to USD 3,242.5 per tonne. 

The LME trainer and risk management consultant, Jorge Eduardo Dyszel, in his weekly newsletter, shared that the market is still facing a very high volatility in aluminium, 23.72 per cent and copper, 30.55 per cent. 

To know where the LME price is heading due to the Middle East crisis, read the report “Global ALuminium Industry Outlook 2026”

Looking into the LME inventory on March 25, the opening stock showed no change from the last day and still remains at 427,675 tonnes. On the other hand, the LME live warrants declined by 225 tonnes or 0.08 per cent, shifting from 273,050 tonnes to 272,825 tonnes. Same as live warrants, the cancelled warrants also decreased by 700 tonnes or 0.4 per cent, moving from 154,625 tonnes to 153,925 tonnes. 

A change in the LME alumina platts price has been seen, where on March 25, it stood at USD 307.20 per tonne, rising from USD 304,36 per tonne, reflecting a difference of USD 2.84 per tonne or 1 per cent. 

Trading aluminium across borders? Find out the exact cost you need to bear for the embedded carbon in the product by using this CBAM calculator