The LME aluminium cash bid price rose from USD 3,465 per tonne on March 11 to USD 3,516 per tonne on March 12, increasing by 1.47 per cent. The cash offer price climbed from USD 3,467 per tonne to USD 3,516.5 per tonne, up 1.43 per cent day-on-day.
The 3-month contract followed a similar trend. The LME aluminium 3-month bid as well as offer price recorded a gain of 1.45 per cent. The bid price edged up from USD 3,442 per tonne on March 11 to USD 3,492 per tonne on March 12, while the offer price rose from USD 3,444 per tonne to USD 3,494 per tonne.
As observed in the previous close, an easing trend followed in the future contracts. The December 2027 bid price shifted from USD 3,153 per tonne to USD 3,118 per tonne, marking a 1.11 per cent decrease. The offer price slipped from USD 3,170 per tonne to USD 3,123 per tonne, dropping by 1.48 per cent.
The LME aluminium 3-month Asian Reference Price stood at USD 3,516 on March 12, compared to USD 3,457 per tonne on March 11, indicating a 1.7 per cent gain.
On the inventory front, LME aluminium opening stock declined further to 450,125 on March 12 compared to 452,375 tonnes on March 11, reflecting a 0.5 per cent decline. Live warrants remained unchanged as in the previous day’s close, at 272,800 tonnes. Cancelled warrants dropped to 174,500 tonnes from 177,325 tonnes, marking a 1.59 per cent decrease.
Meanwhile, the LME alumina Platts price settled at USD 304.05 per tonne, rising from USD 302.77 per tonne on the previous close by 0.42 per cent.
