LME aluminium prices gained ground on November 4, with cash and futures contracts moving higher. The Asian Reference Price also edged up, while exchange inventories declined. Alumina Platts prices, however, moved slightly lower.
The cash bid rose by USD 53.50 per tonne, or 1.74 per cent, to USD 3,134.50 per tonne from USD 3,081 per tonne. The cash offer increased 1.72 per cent to USD 3,135 per tonne from USD 3,082 per tonne.
Three-month aluminium prices also advanced. The bid climbed 1.08 per cent to USD 3,073 per tonne on November 4 from USD 3,040 per tonne, while the offer gained 1.05 per cent to USD 3,074 per tonne. It was previously at USD 3,042 per tonne.
The December 2027 contract recorded further gains, with both the bid and offer rising by around 1.43 per cent. The bid reached USD 2,987 per tonne from USD 2,945 per tonne, while the offer increased to USD 2,992 per tonne from USD 2,950 per tonne.
The Asian Reference Price edged up to USD 3,047 per tonne from USD 3,044.50 per tonne.
LME aluminium opening stocks fell 0.56 per cent to 229,475 tonnes from 230,775 tonnes. Further in the inventory, Live warrants decreased 0.64 per cent to 213,575 tonnes from 214,950 tonnes. Cancelled warrants moved in the opposite direction, climbing 4.47 per cent to 15,175 tonnes from 14,525 tonnes.
Alumina Platts prices slipped 0.30 per cent and settled at USD 395.80 per tonne.