Key Moments
- LME aluminum cash bid and offer prices rose to USD 3,612 per tonne and USD 3,613 per tonne on April 21.
- Three-month LME aluminum contracts advanced, while the 3-month Asian Reference Price slipped slightly to USD 3,557 per tonne.
- LME aluminum opening stocks fell to 386,250 tonnes on April 21, with both live and cancelled warrants declining.
Spot Aluminum Strengthens on LME
LME aluminum prices moved higher on April 21 compared with the previous close, with gains across cash and futures contracts while inventories continued to contract.
The LME aluminum cash bid and offer both advanced by USD 23 per tonne, or 0.64 percent. The cash bid increased from USD 3,589 per tonne on April 20 to USD 3,612 per tonne on April 21. Over the same period, the cash offer rose from USD 3,590 per tonne to USD 3,613 per tonne.
Three-Month and Longer-Dated Contracts Recover
The three-month LME aluminum contract also moved higher. The three-month bid climbed from USD 3,552 per tonne on April 20 to USD 3,568 per tonne on April 21, a rise of USD 16 per tonne or 0.45 percent. The three-month offer increased from USD 3,552.5 per tonne to USD 3,569 per tonne, up by USD 16.5 per tonne or 0.46 percent.
Further along the curve, December 2027 futures showed similar resilience. On April 21, the December 2027 bid added USD 12 per tonne, or 0.38 percent, moving from USD 3,120 per tonne to USD 3,132 per tonne. The corresponding offer improved from USD 3,125 per tonne to USD 3,137 per tonne.
Asian Reference Price and Alumina
The LME aluminum 3-month Asian Reference Price registered a marginal decline. It stood at USD 3,557 per tonne on April 21 versus USD 3,557.5 per tonne on April 20, reflecting a decrease of USD 0.5 per tonne, or 0.01 percent.
In contrast, the LME alumina Platts price was steady. It remained unchanged from the previous two sessions at USD 305.26 per tonne on April 21.
Inventory Levels Continue to Contract
Aluminum stocks on the LME continued to trend lower. Opening stock fell to 386,250 tonnes on April 21 from 388,850 tonnes on April 20, a drop of 2,600 tonnes or 0.67 percent.
Live warrants decreased to 335,000 tonnes from 336,700 tonnes, a reduction of 1,700 tonnes or 0.5 percent. Cancelled warrants also moved lower, slipping to 48,275 tonnes from 49,550 tonnes, a decline of 1,275 tonnes or 2.57 percent.
Price and Inventory Snapshot
| Item | Date | Level | Change | Percent Change |
|---|---|---|---|---|
| LME aluminum cash bid (USD/tonne) | April 20 | 3,589 | – | – |
| LME aluminum cash bid (USD/tonne) | April 21 | 3,612 | +23 | 0.64% |
| LME aluminum 3-month bid (USD/tonne) | April 20 | 3,552 | – | – |
| LME aluminum 3-month bid (USD/tonne) | April 21 | 3,568 | +16 | 0.45% |
| LME aluminum December 2027 bid (USD/tonne) | April 20 | 3,120 | – | – |
| LME aluminum December 2027 bid (USD/tonne) | April 21 | 3,132 | +12 | 0.38% |
| LME aluminum 3-month Asian Reference Price (USD/tonne) | April 20 | 3,557.5 | – | – |
| LME aluminum 3-month Asian Reference Price (USD/tonne) | April 21 | 3,557 | -0.5 | 0.01% |
| LME aluminum opening stock (tonnes) | April 20 | 388,850 | – | – |
| LME aluminum opening stock (tonnes) | April 21 | 386,250 | -2,600 | 0.67% |
| Live warrants (tonnes) | April 20 | 336,700 | – | – |
| Live warrants (tonnes) | April 21 | 335,000 | -1,700 | 0.5% |
| Cancelled warrants (tonnes) | April 20 | 49,550 | – | – |
| Cancelled warrants (tonnes) | April 21 | 48,275 | -1,275 | 2.57% |
| LME alumina Platts price (USD/tonne) | April 21 | 305.26 | 0 | Unchanged |
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