The London Metal Exchange (LME) aluminium price chart continued to record a downward trend of nearly 1 per cent across the pricing and contract segments in the October 14 trading session, reporting drops over the October 13 close. The Asian Reference Price dropped nearly 2 per cent while the opening stocks and live warrants remained stable.
The LME aluminium cash bid price dropped by 0.91 per cent from USD 3,035.5 per tonne to USD 3,008 per tonne. The offer price moved from USD 3,036 per tonne to USD 3,010 per tonne, down 0.86 per cent day-on-day.
The LME aluminium three-month bid advanced from USD 3,036 per tonne from USD 3,013 per tonne, decreasing by 0.76 per cent. The offer price, down from USD 3,037 per tonne to USD 3,013.5 per tonne, representing a 0.77 per cent decline.
The downward curve remained consistent in the longer-dated contracts as both the December 27 bid and offer prices reported a 0.84 per cent plunge. The bid dropped to USD 2,967 per tonne from USD 2,992 per tonne, and the offer closed at USD 2,972 per tonne, rising from USD 2,997 per tonne.
The LME aluminium three-month Asian Reference Price closed at USD 2,987.5 per tonne on October 14, slipping by 1.7 per cent from USD 3,039 per tonne on October 13.
On the aluminium inventory front, the LME aluminium opening stocks reported no change from the 238,625 tonnes recorded on October 13.
Similarly, live warrants remained unchanged at 221,550 tonnes as recorded in the previous close.
On the contrary, cancelled warrants dipped to 16,825 tonnes from 17,075 tonnes, reflecting a 1.46 per cent decline.
LME alumina Platts remained stable at USD 382.34 per tonne on October 14.