LME aluminium cash offer rises 0.84% to $3,353/t; stocks remain unchanged at 244,525t
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The LME aluminium price moved higher on September 9 compared with the previous trading day, with cash and three-month aluminium prices recording gains, while total warehouse stocks remained unchanged.
On September 9, the LME aluminium cash bid price stood at USD 3351.5 per tonne, up USD 27.5 per tonne, or 0.83 per cent, from USD 3324 per tonne on September 8. The LME aluminium cash offer price rose to USD 3353 per tonne from USD 3325 per tonne, marking an increase of USD 28 per tonne, or 0.84 per cent.
The LME aluminium 3-month bid price stood at USD 3336 per tonne on September 9, compared with USD 3318.5 per tonne on September 8, representing a gain of USD 17.5 per tonne, or 0.53 per cent. The 3-month offer price increased to USD 3338 per tonne from USD 3319 per tonne, up USD 19 per tonne, or 0.57 per cent.
Further along the forward curve, the December 27 bid price increased to USD 3233 per tonne from USD 3223 per tonne, rising USD 10 per tonne, or 0.31 per cent. The December 27 offer price also climbed by USD 10 per tonne, or 0.31 per cent, to USD 3238 per tonne from USD 3228 per tonne.
The LME aluminium 3-month Asian Reference Price on September 9 stood at USD 3357 per tonne.
LME aluminium opening stock remained unchanged at 244525 tonnes on September 9 compared with September 8.
However, the composition of warehouse stocks changed. Live warrants stood at 240525 tonnes on September 9, down 250 tonnes, or 0.10 per cent, from 240775 tonnes on September 8.
Meanwhile, Cancelled warrants increased to 4000 tonnes on September 9 from 3750 tonnes on September 8, representing a rise of 250 tonnes, or 6.67 per cent.
The LME alumina Platts price stood at USD 353.36 per tonne.
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