LME aluminium prices advanced on October 28, with cash and three-month contracts posting gains. The Asian Reference Price moved lower, while exchange opening stocks and cancelled warrants declined. Alumina Platts prices recorded a stronger increase.
The cash bid rose 0.73 per cent to USD 3,100 per tonne from USD 3,077.50 per tonne. The cash offer increased 0.75 per cent to USD 3,101 per tonne on October 28 from USD 3,078 per tonne previously.
Three-month aluminium prices also moved higher. The bid climbed 0.70 per cent to USD 3,083.50 per tonne from USD 3,062 per tonne, while the offer advanced 0.65 per cent to USD 3,084 per tonne from USD 3,064 per tonne.
The December 2027 contract recorded a smaller gain. Its bid edged up 0.27 per cent to USD 2,980 per tonne from USD 2,988 per tonne, while the offer slipped 0.27 per cent to USD 2,985 per tonne from USD 2,993 per tonne.
The Asian Reference Price fell 0.45 per cent to USD 3,073 per tonne. It was USD 3,087 per tonne on October 28.
LME aluminium opening stocks decreased 0.83 per cent to 232,100 tonnes from 234,050 tonnes. Live warrants remained unchanged at 217,450 tonnes, while cancelled warrants fell 1.37 per cent to 14,450 tonnes from 14,650 tonnes.
Alumina Platts prices climbed 2.13 per cent to USD 393.20 per tonne from USD 385.01 per tonne.