LME aluminium prices eased on September 28 after rising in the previous session, with cash and forward contracts moving lower. The Asian Reference Price also declined, while a sharp rise in cancelled warrants pushed live warrants lower.
The cash bid slipped 0.15 per cent to USD 3,248 per tonne from USD 3,253 per tonne, while the cash offer fell 0.17 per cent to USD 3,248.50 per tonne from USD 3,254 per tonne.
Three-month aluminium prices followed the weaker trend. The bid dropped 0.41 per cent to USD 3,251.50 per tonne from USD 3,265 per tonne, while the offer was down 0.46 per cent to USD 3,252 per tonne compared with USD 3,267 per tonne.
The December 2027 contract also moved lower, with the bid declining 0.41 per cent to USD 3,180 per tonne from USD 3,193 per tonne. The offer decreased by the same 0.41 per cent to USD 3,185 per tonne from USD 3,198 per tonne.
The Asian Reference Price closed at USD 3,251.50 per tonne.
LME aluminium opening stocks held steady at 241,375 tonnes. However, live warrants fell 4.5 per cent to 226,825 tonnes from 237,475 tonnes, while cancelled warrants jumped 273.1 per cent to 14,550 tonnes from 3,900 tonnes.
The LME Alumina Platts prices stood at USD 356.40 per tonne on September 28.