The LME aluminium cash bid price rose to USD 3,225.5 per tonne on March 2, up 2.19 per cent from USD 3,156.5 per tonne on February 27. The cash offer price climbed to USD 3,226 per tonne from USD 3,157.5 per tonne, rising by 2.17 per cent.
The three-month contract followed a similar trend. The LME aluminium 3-month bid price edged up to USD 3,232 per tonne on March 2 from 3,163 per tonne on February 27, increasing by 2.18 per cent. The 3-month offer price rose to USD 3,233 per tonne from USD 3,165 per tonne, recording a gain of 2.15 per cent.
For the longer-dated contract, the December 27 bid price rose to USD 3,133 per tonne on March 2 from USD 3,107 per tonne on February 27, up 0.84 per cent. The December 27 offer price advanced to USD 3,138 per tonne from USD 3,112 per tonne, also increasing by 0.84 per cent.
The LME aluminium 3-month Asian Reference Price stood at USD 3,194.5 on March 2, compared to USD 3,140 per tonne on February 27, indicating a 1.74 per cent gain.
On the inventory front, LME aluminium opening stock declined further to 465,550 on March 2 compared to 467,550 tonnes on February, reflecting a 0.43 per cent decline. Live warrants remained unchanged as the previous day’s close, at 420,850 tonnes. Cancelled warrants dropped to 42,700 tonnes from 44,700 tonnes, marking a staggering 4.47 per cent decrease.
Meanwhile, the LME alumina Platts price settled at USD 305 per tonne, recording another decline of 0.66 per cent from USD 307.03 per tonne on the previous close.
