The London Metal Exchange (LME) aluminium price on November 20 showed a mixed movement, where the cash bid and offer showed a slight decline, but a significant rise was recorded for the LME 3-month and the December 26 contracts.
The LME cash bid fell by USD 2 per tonne or 0.07 per cent and settled at USD 2,778 per tonne, down from USD 2,780 per tonne. Similarly, the LME cash offer inched down by USD 2.5 per tonne or 0.08 per cent and is currently at USD 2,778.5 per tonne from USD 2,781 per tonne.
On the contrary, the LME 3-month bid rose by USD 4.5 per tonne or 0.2 per cent, to settle at USD 2,810 per tonne from USD 2,805.5 per tonne. Concurrently, the LME 3-month offer also widened on November 20, up by USD 5 per tonne or 0.2 per cent to reach USD 2,811 per tonne, up from USD 2,806 per tonne.
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A similar trend was seen in the LME December 26 bid and offer, where both rose by USD 6 per tonne or 0.21 per cent and each settled at USD 2,843 per tonne and USD 2,848 per tonne, respectively.
Asia’s LME aluminium 3-month Reference Price, as of November 20, stood at USD 2,814 per tonne, representing a dip of USD 194.5 per tonne or 7.4 per cent.
On the inventory side, the opening inventories eased from 546,075 tonnes to 544,075 tonnes, a drop of 2,000 tonnes or 0.4 per cent.
Live warrants slid from 490,775 tonnes to 484,800 tonnes, down 5,975 tonnes or 1.21 per cent. In contrast, cancelled warrants rose from 55,300 tonnes to 59,275 tonnes, an increase of 3,975 tonnes or 7.2 per cent.
Meanwhile, the LME alumina Platts price was assessed at USD 319.15 per tonne.
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