The London Metal Exchange (LME) aluminium market recorded higher prices across its cash and futures contracts on September 1 compared with the August 28 session, while opening stocks remained largely stable.
The LME aluminium cash bid increased 1.21 per cent from USD 3,221.5 per tonne on August 28 to USD 3,260.5 per tonne on September 1. The cash offer also rose 1.21 per cent, from USD 3,222 per tonne to USD 3,261 per tonne.
The three-month contract also moved higher. Both the bid and offer climbed 0.62 per cent. Bid from USD 3,240 per tonne to USD 3,260 per tonne, and the offer rose from USD 3,241 per tonne to USD 3,261 per tonne.
Longer-dated contracts strengthened as well. The December 2027 bid rose 0.7 per cent from USD 3,153 per tonne to USD 3,175 per tonne, while the offer increased from USD 3,158 per tonne to USD 3,180 per tonne, with similar growth.
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The LME aluminium three-month Asian Reference Price recorded a stronger increase of 1.2 per cent, rising from USD 3,242 per tonne on August 28 to USD 3,281 per tonne on September 1.
On the inventory front, LME aluminium opening stocks edged down from 246,825 tonnes to 246,725 tonnes. Live warrants declined by 0.38 per cent, falling from 243,425 tonnes to 242,500 tonnes.
Meanwhile, cancelled warrants increased by 28.03 per cent, rising from 3,300 tonnes on August 28 to 4,225 tonnes on September 1.
LME alumina Platts price declined 0.87 per cent from USD 353.37 per tonne to USD 350.30 per tonne.