LME aluminium price falters at $3,082/t with stable alumina price on November 3

The London Metal Exchange (LME) aluminium price graph depicted a faltering market picture. Declines over the November 2 close were reported across the pricing, contract, and inventory segments. The LME alumina Platts price remained stable at the session close.

The LME aluminium cash bid as well as offer prices dipped by 0.42 per cent. The bid slipped to USD 3,081 per tonne from USD 3,094 per tonne, while the offer eased to USD 3,082 per tonne from USD 3,095 per tonne, down 0.61 per cent day-on-day.

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The LME aluminium three-month bid contracted by 0.64 per cent to USD 3,040 per tonne from USD 3,059.5 per tonne. The offer price closed at USD 3,042 per tonne from USD 3,060 per tonne, representing a 0.59 per cent decline.

On the longer-dated contracts, both the December 27 bid and offer prices dropped by 0.57 per cent. The bid softened to USD 2,945 per tonne from USD 2,962 per tonne, and the offer slumped to USD 2,950 per tonne, reduced from USD 2,967 per tonne.

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The LME aluminium three-month Asian Reference Price closed at USD 3,044.5 per tonne on November 3.

On the aluminium inventory front, the LME aluminium opening stocks dipped by 0.18 per cent from 231,200 tonnes to 230,775 tonnes.

Live warrants reported a 0.92 per cent decline, down from 216,950 tonnes to 214,950 tonnes.

A slight surge was noted in the cancelled warrants, which moved to 14,525 tonnes from 13,750 tonnes, reflecting a 0.55 per cent rise.

LME alumina Platts price remained stable at USD 397 per tonne on November 3.

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