Rise and fall in LME aluminium prices: Cash jumps to $3,047.5/t as alumina dips 1.6%
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The London Metal Exchange (LME) aluminium price chart recovered in the October 26 trading session across the pricing and near-term contract segments compared to the October 23 close. Longer-dated contracts, inventories, and the alumina price, however, edged lower.
The LME aluminium cash bid price gained 0.13 per cent on October 26, advancing from USD 3,042.5 per tonne to USD 3,046.5 per tonne. The offer price surged from USD 3,043 per tonne to USD 3,047.5 per tonne, up 0.15 per cent day-on-day.
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The LME aluminium three-month bid price reported a 0.27 per cent rise from USD 3,017 per tonne on October 23 to USD 3,025 per tonne on October 26. The offer price gained 0.3 per cent, climbing from USD 3,018 per tonne to USD 3,027 per tonne.
Contrary to these upward trends, both the December 27 bid and offer prices reported a 0.17 per cent slump over the previous session. The bid contracted from USD 2,965 per tonne to USD 2,960 per tonne, and the offer eased from USD 2,970 per tonne to USD 2,965 per tonne.
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The LME aluminium three-month Asian Reference Price closed at USD 3,040.5 per tonne on October 26, down 0.1 per cent from USD 3,043.5 per tonne on October 23.
The decline persisted in the inventory counts. The LME aluminium opening stocks slipped by 0.1 per cent from 236,025 tonnes to 235,800 tonnes.
Live warrants fell from 221,350 tonnes to 220,950 tonnes, down 0.18 per cent.
Cancelled warrants dropped to 13,100 tonnes from 14,450 tonnes, indicating a 9.34 per cent decline.
LME alumina Platts closed at USD 385.01 per tonne on October 26, edging lower from USD 391.25 per tonne by 1.6 per cent.
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