LME aluminium prices saw minor gains on September 18, while stocks recorded a notable surge.
The LME aluminium cash bid inched up from the previous day by USD 2.5 per tonne or 0.09 per cent and as of Thursday, September 18, it is recorded at USD 2,692.5 per tonne, up from USD 2,690 per tonne. A similar trend is seen in the cash offer price, which also moved up by USD 2 per tonne or 0.07 per cent, to USD 2,693 per tonne from USD 2,691 per tonne.
No change is seen in the 3-month bid price and is settled at USD 2,683 per tonne. However, a slight change has been seen in the 3-month offer price, which climbed by USD 1.5 per tonne or 0.06 per cent, up from USD 2,683.5 per tonne to USD 2,685 per tonne.
Both the December 26 bid and offer price showed a positive upward trend by USD 3 per tonne or 0.11 per cent, where each settled at USD 2,720 per tonne and USD 2,725 per tonne, respectively.
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The 3-month Asian Reference Price surged by USD 1.5 per tonne or 0.06 per cent and resolved at USD 2,684.5 per tonne, up from USD 2,683 per tonne.
A significant change has been seen in the LME aluminium opening stock, which escalated by 30,125 tonnes or 6.22 per cent and is currently at 513,900 tonnes. Simultaneously, the live warrant also wound up by 29,650 tonnes or 7.9 per cent and is finally at 404,675 tonnes. However, the cancelled warrant showed a small change, increasing by 475 tonnes or 0.43 per cent and is now at 109,225 tonnes.
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Alumina platts price also showed no change at USD 333.25 per tonne.
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