Aluminium prices recorded slight gains across key London Metal Exchange (LME) price chart on Tuesday, July 15, while alumina saw a minor decline.
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The LME cash bid price for aluminium rose to USD 2,593.50 per tonne, up from USD 2,585.50 per tonne on July 14, an increase of 0.31 per cent. The cash offer price also climbed by 0.31 per cent, from USD 2,586 per tonne to USD 2,594 per tonne.
LME’s 3-month aluminium price chart reflected similar momentum, with the bid price rising by 0.41 per cent to USD 2,595.50 per tonne and the offer price increasing by 0.43 per cent to USD 2,596 per tonne, compared to July 14.
December 26 aluminium price closed with a bid price of USD 2,630 per tonne and an offer price of USD 2,635 per tonne, both rising by approximately 0.46 per cent from the previous day’s levels of USD 2,618 per tonne and USD 2,623 per tonne respectively.
In contrast, the LME 3-month Asian Reference Price dropped slightly to USD 2,580.50 per tonne on July 15, from USD 2,592 per tonne on the previous day.
Amid the increased price trend, the LME aluminium opening stock also showed a growing trajectory, amounting to 416975 tonnes, up by 11,425 tonnes from 405550 tonnes. Live warrants and Cancelled warrants closed at 408925 tonnes and 8050 tonnes.
Alumina price
Meanwhile, alumina (Platts) prices dipped by 0.31 per cent, falling from USD 366.22 per tonne on July 14 to USD 365.09 per tonne on July 15.
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