LME aluminium prices eased on May 27 compared to the previous session, while December 2027 contracts moved higher and cancelled warrants increased sharply.
The LME aluminium cash bid price stood at USD 3,737.5 per tonne on May 27, down 0.55 per cent from USD 3,758 per tonne on May 26. The cash offer price slipped 0.56 per cent to USD 3,738 per tonne from USD 3,759 per tonne a day earlier.
LME aluminium 3-month prices also declined. The 3-month bid price fell 0.46 per cent to USD 3,663 per tonne on May 27 from USD 3,680 per tonne on May 26, while the 3-month offer price dropped 0.49 per cent to USD 3,664 per tonne from USD 3,682 per tonne.
In contrast, longer-dated contracts strengthened. The December 2027 aluminium bid price rose 0.40 per cent to USD 3,265 per tonne on May 27 from USD 3,252 per tonne on May 26. The December 2027 offer price also increased 0.40 per cent to USD 3,270 per tonne from USD 3,257 per tonne.
The LME aluminium 3-month Asian Reference Price stood at USD 3,636 per tonne on May 27.
LME aluminium opening stock edged lower to 339,350 tonnes on May 27, compared with 339,475 tonnes on May 26, marking a marginal decline of 0.04 per cent. Live warrants fell 1.62 per cent to 259,625 tonnes from 263,900 tonnes, while cancelled warrants jumped 5.53 per cent to 79,625 tonnes from 75,450 tonnes.
Meanwhile, the LME alumina Platts price stood at USD 306.67 per tonne.