

The London Metal Exchange (LME) aluminium price, after declining at the previous close, again rose on May 18; however, the rise was not significant. Moreover, the 3-month Asian Reference Price also rose, but the longer-dated contracts continued the declining trend. A slight decline in the LME alumina platts price has also been witnessed on May 18.
{alcircleadd}The LME cash bid rose from USD 3,634 per tonne to USD 3,635 per tonne, owing to an increase of USD 1 per tonne or 0.03 per cent. Similarly, the LME cash offer finally stood at USD 3,637 per tonne, inching up by USD 2 per tonne or 0.05 per cent from the previous close, which was recorded at USD 3,635 per tonne.
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At the forward contracts, both the LME 3-month bid and offer declined by USD 15 per tonne or 0.4 per cent, where the bid shifted from USD 3,578 per tonne to USD 3,563 per tonne and the offer from USD 3,580 per tonne to USD 3,565 per tonne.
Concurrently, the LME longer-dated contracts also declined, where both the December 27 bid and offer moved down by USD 12 per tonne or 0.4 per cent, with the bid inching down to USD 3,145 per tonne from USD 3,157 per tonne and the offer at USD 3,150 per tonne from USD 3,162 per tonne.
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The LME 3-month Asian Reference Price, on the other hand, rose by USD 6 per tonne or 0.2 per cent, rising to USD 3,569 per tonne from USD 3,563 per tonne.
At the inventory level, the opening stock and live warrant declined by 2,500 tonnes or 0.7 per cent and 2,850 tonnes or 1 per cent, respectively. As of May 18, the opening stock stood at 344,000 tonnes, down from 346,500 tonnes and live warrant at 283,875 tonnes, declining from 286,725 tonnes.
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On the other hand, the LME cancelled warrant continued to rise by 625 tonnes or 1.1 per cent and on May 18, it rose from 57,275 tonnes to 57,900 tonnes.
A slight decline has been witnessed at LME alumina platts price, where it moved down by USD 0.5 per tonne or 0.2 per cent, shifting from USD 305.90 per tonne to USD 305.40 per tonne.
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