LME aluminium prices climb up to 0.41% as Asian reference price jumps $34

LME aluminium prices moved higher on October 23, with cash and futures contracts posting gains. The Asian Reference Price also advanced, while alumina Platts prices edged up further. Opening stocks and live warrants changed little, although cancelled warrants declined.

The cash bid rose 0.33 per cent to USD 3,042.50 per tonne from USD 3,032.50 per tonne. The cash offer also increased 0.33 per cent to USD 3,043 per tonne from USD 3,033 per tonne.

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Three-month aluminium prices also strengthened. The bid climbed 0.31 per cent to USD 3,017 per tonne from USD 3,007.50 per tonne, while the offer advanced 0.33 per cent to USD 3,018 per tonne from USD 3,008 per tonne.

The December 2027 contract followed the upward trend, with both the bid and offer price gaining 0.41 per cent. The bid stood at USD 2,965 per tonne, up from USD 2,953 per tonne. The offer rose to USD 2,970 per tonne from USD 2,958 per tonne.

The Asian Reference Price increased 1.13 per cent to USD 3,043.50 per tonne on October 23 from USD 3,009.50 per tonne previously.

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LME aluminium opening stocks edged down 0.04 per cent to 236,025 tonnes from 236,125 tonnes, while live warrants remained unchanged at 221,350 tonnes. Cancelled warrants fell 1.53 per cent to 14,450 tonnes from 14,675 tonnes.

Alumina Platts prices were settled at USD 391.25 per tonne, up from USD 390.40 per tonne.