The London Metal Exchange (LME) aluminium market recorded marginal gains on June 1, with the LME aluminium cash bid price increasing to USD 3,795 per tonne from USD 3,769 per tonne on May 29, marking a rise of around 0.69 per cent.
The aluminium LME cash offer price also climbed 0.69 per cent on June 1, to USD 3,795.5 per tonne from USD 3,769.5 per tonne.
In the three-month contract segment, the LME aluminium 3-month bid price stood at USD 3,685 per tonne on June 1, slightly up by 0.01 per cent from USD 3,684.5 per tonne recorded on May 29. The 3-month offer price remained largely unchanged at USD 3,685.5 per tonne compared to USD 3,685 per tonne previously, reflecting a marginal increase of nearly 0.01 per cent.
Meanwhile, the December 2027 aluminium contract remained stable over the two trading sessions. The December 27 bid price held at USD 3,298 per tonne, while the offer price stayed unchanged at USD 3,303 per tonne.
The LME aluminium 3-month Asian Reference Price was recorded at USD 3,716 per tonne.
On the inventory front, LME aluminium opening stock remained unchanged at 338,000 tonnes on both May 29 and June 1. Live warrants were also steady at 254,625 tonnes.
However, cancelled warrants eased slightly to 83,075 tonnes on June 1 from 83,375 tonnes on May 29, reflecting a decline of around 0.36 per cent.
Separately, the LME alumina Platts price stood at USD 305.8 per tonne.