LME aluminium cash offer at $2,913.5/t as opening stocks slip to 479,675t

LME aluminium prices softened between December 24 and December 29, while exchange inventories fell but showed a shift toward more live warrants. On December 29, the LME aluminium cash bid price stood at USD 2,913 per tonne, compared with USD 2,931.5 per tonne on December 24 - a decline of about 0.63 per cent. The cash offer slipped to USD 2,913.5 per tonne from USD 2,932 per tonne over the same period, down roughly 0.63 per cent.

LME aluminium 3-month prices were largely steady. The 3-month bid remained unchanged at USD 2,957 per tonne on both December 24 and December 29, marking no change. The 3-month offer eased to USD 2,958 per tonne on December 29 from USD 2,959 per tonne on December 24, down around 0.03 per cent.

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For the December 26 contract, the bid price came in at USD 2,980 per tonne on December 29 versus USD 2,982 per tonne on December 24 - a fall of nearly 0.07 per cent. The offer was USD 2,985 per tonne on December 29, compared with USD 2,987 per tonne previously, also down close to 0.07 per cent.

The LME aluminium 3-month Asian Reference Price on December 29 stood at USD 2,952 per tonne.

Inventory data indicated shifting positioning. On December 29, LME aluminium opening stock was reported at 479,675 tonnes, down from 521,050 tonnes on December 24 - a drop of about 7.94 per cent. Live warrants increased to 465,450 tonnes from 447,825 tonnes, up roughly 3.94 per cent, while cancelled warrants fell sharply to 14,225 tonnes from 73,225 tonnes, a decrease of about 80.56 per cent.

Separately, LME alumina Platts price stood at USD 310.32 per tonne.

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