LME aluminium prices strengthened on August 10 compared with August 7, with both cash and three-month prices moving higher. The rise came alongside a decline in exchange stocks, while cancelled warrants also fell.
The LME aluminium cash bid price increased to USD 3,327 per tonne on August 10 from USD 3,279 per tonne on August 7, marking a rise of USD 48 per tonne, or 1.46 per cent. The cash offer price also rose to USD 3,327.5 per tonne from USD 3,279.5 per tonne, up 1.46 per cent.
The three-month bid price climbed to USD 3,320 per tonne from USD 3,279 per tonne, an increase of USD 41 per tonne, or 1.25 per cent. Meanwhile, the three-month offer price increased to USD 3,320.5 per tonne from USD 3,280 per tonne, gaining 1.23 per cent.
Further along the forward curve, the December 2027 bid price rose to USD 3,227 per tonne from USD 3,205 per tonne, up 0.69 per cent. The corresponding offer price increased to USD 3,232 per tonne from USD 3,210 per tonne, also gaining 0.69 per cent.
The LME aluminium three-month Asian Reference Price stood at USD 3,317.5 per tonne on August 10.
LME aluminium opening stocks stood at 256,400 tonnes on August 10, down 1,500 tonnes, or 0.58 per cent, from 257,900 tonnes on August 7.
Live warrants remained unchanged at 244,650 tonnes, while cancelled warrants declined to 10,250 tonnes from 11,750 tonnes, a fall of 1,500 tonnes, or 12.77 per cent.
The LME alumina Platts price stood at USD 346.25 per tonne on August 10.