LME aluminium cash offer price eases 0.08% to $3,735/t on May 28, as opening stocks dip marginally

The London Metal Exchange (LME) aluminium prices edged lower on the May 28 session compared to May 27. While cash prices recorded a marginal decline, the 3-month closing reference price continued its upward movement. 

The LME aluminium cash bid price slipped 0.08 per cent from USD 3,737.5 per tonne on May 27 to USD 3,734.5 per tonne on May 28. The cash offer price also eased 0.08 per cent from USD 3,738 per tonne to USD 3,735 per tonne.

LME aluminium 3-month prices eased on May 28 compared with the previous session, with the bid price declining by 0.68 per cent to USD 3,638 per tonne from USD 3,663 per tonne on May 27. The 3-month offer price also slipped by 0.66 per cent to USD 3,640 per tonne from USD 3,664 per tonne.

Longer-dated aluminium contracts also edged lower. The Dec-27 bid price fell by 0.21 per cent to USD 3,258 per tonne on May 28 from USD 3,265 per tonne a day earlier, while the Dec-27 offer price dropped by 0.21 per cent to USD 3,263 per tonne from USD 3,270 per tonne.

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The LME aluminium 3-month Asian Reference Price stood at  USD 3,659.5 per tonne on May 28

LME aluminium opening stocks slipped marginally by 0.03 per cent to 339,250 tonnes on May 28, from 339,350 tonnes recorded on May 27.

Live warrants remained unchanged at 259,625 tonnes over the same period, while cancelled warrants declined by 1.57 per cent to 78,375 tonnes on May 28 from 79,625 tonnes a day earlier.

Meanwhile, the LME alumina Platts price stood at  USD 36.75