LME aluminium rebounds as cash offer climbs past $3,117/t, while inventories and alumina hint at shifting momentum

After a slight dip, the London Metal Exchange (LME) aluminium price soared from the previous day’s close. There has been a notable shift in the LME inventory as well. The LME alumina platts price dropped further from the last close. 

The LME cash bid rose from USD 3,096 per tonne to USD 3,116.5 per tonne, showing an increase of USD 20.5 per tonne or 0.7 per cent. As the bid rose, the LME cash offer finally settled at USD 3,117 per tonne, up from USD 3,098 per tonne, representing an increase of USD 19 per tonne or 0.6 per cent. 

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With a similar trend, the LME 3-month contracts also expanded with the bid moving up by USD 19.5 per tonne or 0.62 per cent, shifting from USD 3,126 per tonne to USD 3,145.5 per tonne. With an increase in the bid, the 3-month offer also showed a difference of UD 19 per tonne or 0.6 per cent, moving from USD 3,127 per tonne to USD 3,146 per tonne. 

At the forwards contract, both the December 27 bid and offer inched up by USD 20 per tonne or 0.64 per cent, where the bid broadened from USD 3,085 per tonne to USD 3,105 per tonne. Concurrently, the December 27 offer changed from USD 3,090 per tonne to USD 3,110 per tonne. 

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A slight decline has been noticed in the LME Asian Reference Price by USD 3 per tonne or 0.1 per cent and is currently at USD 3,100 per tonne from USD 3,103 per tonne. 

Looking at LME inventory, which is deemed a major factor in the global aluminium supply in 2026, the opening stock inched down by 2,200 tonnes or 0.5 per cent, shifting from 485,750 tonnes to 483,550 tonnes. A similar degree of change is seen in the cancelled warrants, where it moved down from 44,325 tonnes to 42,125 tonnes. However, the live warrant showed no change from the previous close and remains at 441,425 tonnes. 

The LME alumina price dropped from the previous day’s close by USD 0.6 per tonne or 0.2 per cent, closing at USD 307.48 per tonne from USD 308.08 per tonne. 

To know more about the global primary aluminium industry 2026 outlook, book the report “Global ALuminium Industry Outlook 2026".