LME aluminium price drops 2.62% as stocks remain stable at 241,375t on October 1
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The London Metal Exchange (LME) aluminium price graph dropped further in the October 1 trading session, reporting major declines of 2 per cent and above across the pricing and contract segments. Stocks in the aluminium inventory remained stable for three consecutive days.
The LME aluminium cash price dipped by 2.6 per cent from USD 3,203 per tonne to USD 3,119.5 per tonne. The offer price moved from USD 3,204 per tonne to USD 3,120 per tonne, representing a slightly higher 2.62 per cent plunge.
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The LME aluminium three-month bid slumped from USD 3,208 per tonne to USD 3,130 per tonne, decreasing by 2.43 per cent. The offer price contracted from USD 3,210 per tonne to USD 3,131 per tonne, representing a 2.46 per cent dip.
Both the December 27 bid and offer prices reported a 1.94 per cent decline. The bid slipped to USD 3,082 per tonne from USD 3,143 per tonne, and the offer closed at USD 3,087 per tonne, decreasing from USD 3,148 per tonne.
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The LME aluminium three-month Asian Reference Price closed at USD 3,123 per tonne on October 1, down 1.47 per cent from USD 3,169.5 per tonne on September 30.
On the aluminium inventory front, the LME aluminium opening stocks remained stable at 241,375 tonnes. Live warrants reported no change from 226,675 tonnes recorded in the previous close.
Cancelled warrants, on the other hand, dropped from 14,700 tonnes to 13,950 tonnes, marking a 5.1 per cent decline.
LME alumina Platts closed at USD 369.5 per tonne on October 1.
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