London Metal Exchange (LME) aluminium prices recorded improved figures on April 24 compared to the previous close. Cash price reported gains by wide margins, near-term futures contracts recovered from the previous session’s decline, while longer-dated contracts and opening stocks continued to slide.
The LME aluminium cash bid price rose from USD 3,641.5 per tonne on April 23 to USD 3,683 per tonne on April 24, increasing by 1.14 per cent. The cash offer price climbed from USD 3,642 per tonne to USD 3,685 per tonne, up 1.18 per cent day-on-day.
The three-month contract followed a similar trend. The LME aluminium 3-month bid as well as offer price recorded a gain of 0.28 per cent. The bid price edged up from USD 3,588 per tonne on April 23 to USD 3,598 per tonne on April 24, while the offer price rose from USD 3,590 per tonne to USD 3,600 per tonne.
In contrast to the cash and near-term recovery, the longer-dated contracts continued to decline. Both the December 2027 bid and offer price decreased by 1.18 per cent on the close of April 24. The bid price slipped from USD 3,135 per tonne to USD 3,098 per tonne, while the offer price fell from USD 3,140 per tonne to USD 3,103 per tonne.
The LME aluminium 3-month Asian Reference Price stood at USD 3,591 on April 24, compared to USD 3,620 per tonne on April 23, indicating a fall of per cent.