LME aluminium prices softened on April 23 across the curve, with both cash and futures contracts posting marginal declines compared to the previous session, while exchange inventories also edged lower.
On April 23, LME aluminium cash bid price stood at USD 3,641.5 per tonne, down 0.23 per cent from USD 3,650 per tonne on April 22. The cash offer price was USD 3,642 per tonne, slipping 0.27 per cent from USD 3,652 per tonne.
In the 3-month contract, the bid price fell to USD 3,588 per tonne on April 23, marking a 0.46 per cent decline from USD 3,604.5 per tonne on April 22. The offer price eased to USD 3,590 per tonne, down 0.42 per cent from USD 3,605 per tonne.
Further along the curve, the December 2027 contract also weakened. The bid price declined to USD 3,135 per tonne on April 23, a 0.41 per cent drop from USD 3,148 per tonne, while the offer price fell to USD 3,140 per tonne, down 0.41 per cent from USD 3,153 per tonne.
On the supply side, LME aluminium inventories continued to trend lower. Opening stock declined to 381,050 tonnes on April 23, down 0.58 per cent from 383,275 tonnes on April 22. Live warrants edged down to 335,000 tonnes, a 0.18 per cent decrease from 335,600 tonnes, while cancelled warrants dropped to 43,825 tonnes, marking a sharper 4.83 per cent fall from 46,050 tonnes.
Meanwhile, the LME alumina Platts price stood at USD 308.69 per tonne.