LME aluminium prices recorded a modest increase on February 24 from the previous trading session, even as exchange inventories registered a decline. On February 24, the LME aluminium cash bid price stood at USD 3,075 per tonne, up from USD 3,068 per tonne on February 23 - a rise of 0.23 per cent. The cash offer price increased to USD 3,077 per tonne from USD 3,070 per tonne, marking a 0.23 per cent gain.

The 3-month aluminium bid price climbed to USD 3,101 per tonne on February 24 from USD 3,096 per tonne a day earlier, reflecting a 0.16 per cent increase. The 3-month offer price moved up to USD 3,102 per tonne from USD 3,097 per tonne, also registering a 0.16 per cent rise.

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Further along the forward curve, the December 27 bid price advanced to USD 3,067 per tonne on February 24, compared to USD 3,043 per tonne on February 23 - a sharper increase of 0.79 per cent. The December 27 offer price rose to USD 3,072 per tonne from USD 3,048 per tonne, up by 0.79 per cent.

The LME aluminium 3-month Asian Reference Price stood at USD 3,093.50 per tonne on February 24.

On the inventory side, LME aluminium opening stock declined to 471,550 tonnes on February 24 from 473,550 tonnes on February 23, down by 0.42 per cent. Live warrants remained unchanged at 422,225 tonnes on both days, while cancelled warrants fell to 49,325 tonnes from 51,325 tonnes, representing a 3.90 per cent decrease.

Meanwhile, the LME alumina Platts price stood at USD 306.97 per tonne.

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