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The London Metal Exchange (LME) aluminium price graph has steadily been on the decline since the August 12 session, as Emirates Global Aluminium (EGA) announced the restart of full-scale production at its AL Taweelah facility in the first quarter (Q1) of 2027. As the drop persists on the August 14 trading session, the figures indicate a cooling effect of the EGA update.
{alcircleadd}The LME aluminium cash bid and offer prices contracted by 0.95 per cent day-on-day on August 14. The bid slumped from USD 3,278 per tonne to USD 3,247 per tonne while the offer moved from USD 3,279 per tonne to USD 3,248 per tonne.
The cash prices had shot up on the March 30 2026 session, jumping from USD 3,292 per tonne to USD 3,482 per tonne, following the Iranian missile hits sustained by the EGA and Aluminium Bahrain (Alba) facilities. It then went on to create new highs the following session, with the cash offer hitting USD 3,585 per tonne.
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On August 14, the LME aluminium three-month bid price reported a difference from USD 3,244 per tonne to USD 3,274 per tonne on August 13, recording a 0.92 per cent drop. The offer price slipped of 0.89 per cent, shifting from USD 3,275 per tonne from USD 3,246 per tonne. The three-month contract had climbed to USD 3,506 per tonne on March 31, rising from USD 3,425 per tonne, post the Iranian attacks, making a rise of 2.4 per cent.
The declining trend followed in the longer-dated contracts, with both the December 27 bid and offer prices recording a 0.41 per cent drop over the previous close. The bid closed at USD 3,170 per tonne, easing from USD 3,183 per tonne, and the offer slumped to USD 3,175 per tonne from USD 3,188 per tonne.
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The LME aluminium three-month Asian Reference Price dipped by 0.2 per cent from USD 3,258.5 per tonne on August 13 to close at USD 3,252 per tonne on August 14.
Moving on to the inventory levels, the LME aluminium opening stocks moved from 251,700 tonnes to close at 250,000 tonnes, reporting a 0.68 per cent decline.
Live warrants remained unchanged at 244,575 tonnes as reported in the previous close.
Again, cancelled warrants dipped further to 3,825 tonnes from 5,425 tonnes, indicating a 29.49 per cent decline.
LME alumina Platts jumped from USD 344.11 per tonne on August 13 to USD 355.68 per tonne on August 14, marking a rise of 3.36 per cent.
As EGA moves ahead to resume operations in Q1 2027, the market awaits restoration of normal trade and aluminium production flow from the next year.
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