LME aluminium price pulls back to $3,212.5/t while opening stocks remain stable

The London Metal Exchange (LME) aluminium price chart declined on the August 27 trading session across the pricing and contract segments compared to the August 26 close. Meanwhile, the Asian Reference Price surged, and the inventories held steady.

The LME aluminium cash bid and offer prices plunged 0.46 per cent day-on-day on August 27. The bid dipped from USD 3,227 per tonne to USD 3,212 per tonne, and the offer shifted from  USD 3,227.5 per tonne to USD 3,212.5 per tonne.

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On August 27, the LME aluminium three-month bid and offer prices reported a 0.71 per cent decline over the August 26 session. The bid moved from USD 3,238 per tonne to USD 3,215 per tonne as the offer price slipped from USD 3,239 per tonne to USD 3,216 per tonne.

The downward trend continued in the longer-dated contracts, with both the December 27 bid and offer prices reporting a 0.67 per cent drop over the previous session. The bid contracted to USD 3,128 per tonne from USD 3,143 per tonne, and the offer slumped from USD 3,148 per tonne to USD 3,133 per tonne.

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The LME aluminium three-month Asian Reference Price surged 0.29 per cent from USD 3,225 per tonne on August 26 to USD 3,234.5 on August 27.

On the inventory front, the LME aluminium opening stocks remained stable at 246,825 tonnes.

Live warrants showed no change from the 243,425 tonnes as reported in August 26. Similarly, cancelled warrants remained unchanged at 3,400 tonnes.

LME alumina Platts closed at USD 353.37 per tonne on August 27.

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