Aluminium prices surged to an 11-week high on Monday due to worries about a sluggish recovery in production in China's Yunnan province. This increase was further bolstered by a positive technical outlook. On Monday, March 25, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$21 per tonne or 0.93 per cent to settle at US$2,267 per tonne and US$2,267.50 per tonne.
As per the LME price graph, both 3-month bid price and 3-month offer price expanded by US$24 per tonne or 1.04 per cent to stand at US$2,318.50 per tonne and US$2,319 per tonne. December 25 bid price and December 25 offer price gained US$23 per tonne or 0.91 per cent to peg at US$2,523 per tonne.
LME aluminium opening stock came in at 559600 tonnes. Live warrants and Cancelled warrants closed at 340950 tonnes and 218650 tonnes. LME aluminium 3-month Asian Reference Price slumped by US$81.7 per tonne or 3.55 per cent to clock at US$2,203.25 per tonne.
LME clamps down on traders profiting from Russian aluminium amid sanction compliance
