London Metal Exchange (LME) aluminium prices strengthened between October 24 and October 27, supported by steady demand and tightening inventories.
On October 27, the LME aluminium cash bid stood at USD 2,878.50 per tonne, up USD 26 from USD 2,852.50 on October 24. The cash offer also rose USD 26, to USD 2,879 per tonne from USD 2,853 earlier.
Similarly, the 3-month bid price climbed USD 25.50 to USD 2,876.50 per tonne, while the 3-month offer increased USD 25 to USD 2,877 per tonne.
The December 26 contract also recorded gains, with the bid price rising USD 31 to USD 2,898 per tonne and the offer advancing USD 31 to USD 2,903 per tonne.
The LME aluminium 3-month Asian Reference Price was reported at USD 2,874.50 per tonne on October 27.
On the inventory front, the LME aluminium opening stock slipped to 469,275 tonnes on October 27 from 473,125 tonnes on October 24 — a decline of 3,850 tonnes.Live warrants fell by 975 tonnes to 404,675 tonnes, while cancelled warrants dropped 875 tonnes to 64,600 tonnes.
Meanwhile, LME alumina (Platts) was assessed at USD 319.16 per tonne.
