LME aluminium prices weakened on December 9 across the cash, 3-month and December 26 contracts, even as exchange inventories moved lower.
The LME aluminium cash bid price slipped to USD 2,831.5 per tonne on December 9 from USD 2,867 per tonne the previous day, a decline of 1.24 per cent. The cash offer eased to USD 2,832 per tonne from USD 2,867.5 per tonne, also down 1.24 per cent.
The 3-month contract also retreated. The 3-month bid fell to USD 2,867 per tonne on December 9 from USD 2,896.5 per tonne on December 8, a drop of 1.02 per cent. The 3-month offer decreased to USD 2,868 per tonne from USD 2,897 per tonne, lower by 1.00 per cent.
The December 26 contract followed the same trend. The bid moved down to USD 2,898 per tonne on December 9 from USD 2,920 per tonne on December 8, a fall of 0.75 per cent. The offer slipped to USD 2,903 per tonne from USD 2,925 per tonne, also down 0.75 per cent.
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The LME aluminium 3-month Asian Reference Price on December 9 stood at USD 2,856 per tonne.
LME aluminium opening stocks dropped to 523,300 tonnes on December 9 from 525,800 tonnes on December 8, a decline of 0.47 percent. Live warrants were steady at 485,400 tonnes, while cancelled warrants fell to 37,900 tonnes from 40,400 tonnes, a decrease of 6.19 percent.
The LME alumina Platts price was assessed at USD 312.22 per tonne.
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