London Metal Exchange (LME) aluminium prices posted slight gains on August 22 compared to the previous session. The LME aluminium cash bid price climbed to USD 2,588.5 per tonne from USD 2,570 per tonne from August 21, while the cash offer price increased to USD 2,589 per tonne from USD 2,570.5 per tonne, reflecting an uptick of about 0.72 per cent.
Three-month contracts also moved higher, with the bid price reaching USD 2,586.5 per tonne and the offer settling at USD 2,587.5 per tonne, marking gains of approximately 0.60 per cent and 0.62 per cent respectively.
Forward prices for December 26 delivery edged up as well, with the bid at USD 2,637 per tonne and the offer at USD 2,642 per tonne, both rising by around 0.53 per cent.
The LME aluminium three-month Asian Reference Price stood at USD 2,624.5 per tonne on August 22.
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On the inventory side, LME opening stocks rose to 478,725 tonnes, an increase of 2.85 per cent from 465,475 tonnes reported on August 21.
Live warrants were reported at 465,475 tonnes, while cancelled warrants came in at 13,250 tonnes.
The LME alumina Platts price stood at USD 369.45 per tonne.
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