LME aluminium slips to USD 2,734/t, is this the start of a deeper decline?
As the week starts with the decline in the London Metal Exchange (LME) aluminium price, the trend continues on Tuesday, October 14, as well.
The LME cash bid and the settlement offer fell by USD 40 per tonne or 1.44 per cent to reach USD 2,733 per tonne and USD 2,734 per tonne, respectively.
The downward trend followed in the 3-month bid and offer price as well, where the bid went down by USD 22 per tonne or 0.8 per cent to finally settle at USD 2,730 per tonne, and the offer inched down by USD 20.5 per tonne or 0.74 per cent and is at USD 2,732 per tonne.
To know more about the global primary aluminium industry 2025 outlook, read “Global Aluminium Industry Outlook 2025”
The December 26 bid and offer also replicated a similar trend as it crept down by USD 17 per tonne or 0.61 per cent and stood at USD 2,763 per tonne and USD 2,768 per tonne, respectively.
Concurrently, the 3-month Asian Reference Price moved down by USD 25.5 per tonne or 0.92 per cent, up from USD 2,763 per tonne to USD 2,737.5 per tonne.
At the stock front, the LME opening stock and cancelled warrants dropped by 2,050 tonnes or 0.4 per cent and are currently at 503,950 tonnes and 98,250 tonnes, respectively. Live warrants showed no change from the previous close.
The alumina platts showed no change from the previous close and are at USD 320.39 per tonne.
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