LME aluminium prices recover up to 1.64% as stocks fall to 243,600t
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London Metal Exchange (LME) aluminium prices rebounded on September 16, with cash and forward contracts moving higher from the previous session. Warehouse stocks edged down, while the Asian reference price and alumina Platts price also increased.
The LME aluminium cash bid and offer price rose 1.53 per cent. The cash bid rose to USD 3,309.50 per tonne from USD 3,260 per tonne, while the cash offer rose to USD 3,310 per tonne from USD 3,260 per tonne.
The three-month aluminium bid price climbed 1.64 per cent to USD 3,288 per tonne from USD 3,235 per tonne. The offer price also rose 1.64 per cent to USD 3,289 per tonne from USD 3,236 per tonne.
The Dec-27 bid and offer prices both rose 1.55 per cent from the previous session, with the bid increasing to USD 3,202 per tonne from USD 3,153 per tonne and the offer moving up to USD 3,207 per tonne from USD 3,158 per tonne.
The LME aluminium Asian reference price stood at USD 3,269 per tonne on September 16, up 0.54 per cent from USD 3,251.50 per tonne on September 15.
LME aluminium opening stocks declined 0.10 per cent to 243,600 tonnes from 243,850 tonnes in the previous session.
Live warrants remained unchanged at 238,675 tonnes, while cancelled warrants also held steady at 4,925 tonnes.
Meanwhile, the LME alumina Platts price increased to USD 355.90 per tonne from USD 355.80 per tonne in the previous session.
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