LME aluminium cash offer declines 0.50% to $3,154/t; alumina Platts price rises 0.54%

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The London Metal Exchange (LME) aluminium prices eased on July 17, as cash prices, futures contracts and longer-dated contracts all moved lower from the previous session.  LME aluminium inventories also continued to fall, while the Platts alumina price recorded an increase.

On July 17, the LME aluminium cash bid price fell from USD 3,169 per tonne to USD 3,152 per tonne, down 0.54 per cent. The cash offer price also declined from USD 3,170 per tonne to USD 3,154 per tonne, a decrease of 0.50 per cent.

The LME aluminium three-month contract also weakened. The bid price dropped from USD 3,166 per tonne to USD 3,146 per tonne, while the offer price fell from USD 3,166.5 per tonne to USD 3,146 per tonne, representing declines of 0.63 per cent and 0.65 per cent, respectively.

The December 2027 bid price declined from USD 3,100 per tonne to USD 3,077 per tonne, while the offer price eased from USD 3,105 per tonne to USD 3,082 per tonne. Both prices were down by 0.74 per cent.

The LME aluminium three-month Asian Reference Price stood at USD 3,150.5 per tonne on July 17, compared with USD 3,185 per tonne on July 16, marking a 1.08 per cent decline.

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On the inventory front, LME aluminium opening stocks decreased to 281,600 tonnes on July 17 from 283,100 tonnes on July 16, down 0.53 per cent. Live warrants remained unchanged at 245,900 tonnes, while cancelled warrants decreased to 34,200 tonnes from 35,700 tonnes, a decline of 4.20 per cent.

The LME alumina Platts price also increased to USD 332 per tonne from USD 330.2 per tonne, up 0.54 per cent.