Key Moments
- LME cash bid for aluminum rose to USD 3,096 per tonne, with the cash offer at USD 3,098 per tonne.
- 3-month and forward December 27 contracts posted synchronized gains across bid and offer prices.
- LME opening stocks declined to 485,750 tonnes, while alumina prices eased slightly to USD 308.08 per tonne.
Price Action Across LME Aluminum Contracts
From the previous close, aluminum prices on the London Metal Exchange moved higher, with cash values and forward contracts all recording gains. At the same time, inventory data continued to move lower, extending the recent pattern of stock declines.
Cash and 3-Month Aluminum Prices
On February 11, the LME cash bid climbed by 1.09 per cent, advancing from USD 3,062.5 per tonne to USD 3,096 per tonne. In line with this move, the cash offer increased from USD 3,063 per tonne to USD 3,098 per tonne, a rise of 1.14 per cent.
The 3-month segment showed a similar upward move. The 3-month bid increased by 1.13 per cent, moving from USD 3,091 per tonne on February 10 to USD 3,126 per tonne on February 11. The corresponding 3-month offer was up 1.1 per cent, edging from USD 3,093 per tonne to USD 3,127 per tonne.
Forward December 27 Contracts
Forward contracts dated December 27 also advanced. The bid price rose by 0.59 per cent, moving from USD 3,067 per tonne on February 10 to USD 3,085 per tonne on February 11. The offer price increased by the same 0.59 per cent, from USD 3,072 per tonne to USD 3,090 per tonne.
LME Asian Reference Price
The 3-month LME Asian Reference Price strengthened as well, rising from USD 3,093 per tonne to USD 3,103 per tonne. This corresponds to a 0.32 per cent increase.
Aluminum Price Summary
| Contract / Price | Date | Bid (USD/t) | Offer (USD/t) | Change (%) |
|---|---|---|---|---|
| Cash | February 10 | 3,062.5 | 3,063 | – |
| Cash | February 11 | 3,096 | 3,098 | Bid: 1.09, Offer: 1.14 |
| 3-month | February 10 | 3,091 | 3,093 | – |
| 3-month | February 11 | 3,126 | 3,127 | Bid: 1.13, Offer: 1.1 |
| Forward December 27 | February 10 | 3,067 | 3,072 | – |
| Forward December 27 | February 11 | 3,085 | 3,090 | Bid: 0.59, Offer: 0.59 |
| 3-month LME Asian Reference Price | February 10 | 3,093 | – | – |
| 3-month LME Asian Reference Price | February 11 | 3,103 | – | 0.32 |
Inventory Dynamics and Warrants
LME aluminum stocks declined slightly, continuing the recent downtrend in inventories. Opening stocks fell from 486,975 tonnes on February 10 to 485,750 tonnes on February 11, a decrease of 0.25 per cent.
Within that total, live warrants edged higher, rising 0.18 per cent from 440,650 tonnes to 441,425 tonnes. Cancelled warrants moved in the opposite direction, dropping from 46,325 tonnes to 44,325 tonnes, a fall of 4.32 per cent.
Inventory and Alumina Data
| Metric | Date | Level | Change (%) |
|---|---|---|---|
| Opening stocks (tonnes) | February 10 | 486,975 | – |
| Opening stocks (tonnes) | February 11 | 485,750 | -0.25 |
| Live warrants (tonnes) | February 10 | 440,650 | – |
| Live warrants (tonnes) | February 11 | 441,425 | 0.18 |
| Cancelled warrants (tonnes) | February 10 | 46,325 | – |
| Cancelled warrants (tonnes) | February 11 | 44,325 | -4.32 |
| LME alumina platts price (USD/t) | February 10 | 308.73 | – |
| LME alumina platts price (USD/t) | February 11 | 308.08 | -0.21 |
Alumina Pricing
The LME alumina platts price was slightly lower. On February 11 it stood at USD 308.08 per tonne, easing from USD 308.73 per tonne on February 10, a decline of 0.21 per cent.
Additional Information
To know more about the global primary aluminium industry 2026 outlook, book the report “Global ALuminium Industry Outlook 2026”
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