LME aluminium price slips to $3,107/t as Asian Reference Price gains 1% on October 5

The London Metal Exchange (LME) aluminium price chart continued to slip across the pricing and contract segments on the October 5 trading session, reporting declines over the October 2 close. Meanwhile, the LME three-month Asian Reference Price benchmark alone reported a gain of nearly one per cent. 

The LME aluminium cash bid price dipped slightly by 0.1 per cent day-on-day, shifting from USD 3,109 per tonne to USD 3,106 per tonne. The offer price contracted from USD 3,109.5 per tonne to USD 3,107 per tonne, reflecting an even more modest 0.08 per cent decline.

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The LME aluminium three-month bid and offer prices faltered by 0.13 per cent. The bid eased from USD 3,121.5 per tonne to USD 3,117.5 per tonne, while the offer plunged from USD 3,122 per tonne to USD 3,118 per tonne.

Both the December 27 bid and offer prices reported a 0.23 per cent decline. The bid slipped to USD 3,065 per tonne from USD 3,072 per tonne, and the offer closed at USD 3,070 per tonne, decreasing from USD 3,077 per tonne.

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The LME aluminium three-month Asian Reference Price closed at USD 3,127 per tonne on October 5, rising 0.86 per cent from USD 3,100.5 per tonne on October 2.

On the aluminium inventory front, the LME aluminium opening stocks dipped from 240,625 tonnes to 240,375 tonnes, representing a 0.1 per cent drop.

Live warrants remained stable at 226,675 tonnes. Cancelled warrants also reported no change from 13,700 tonnes.

LME alumina Platts stood at USD 372.84 per tonne on October 5, same as in the previous close.

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