LME aluminium prices posted marginal gains on December 8 across cash, 3-month and December 26 contracts, even as exchange inventories continued their downward trend.
The LME aluminium cash bid rose to USD 2,867 per tonne, up USD 2.5 or 0.09 per cent from USD 2,864.5 on December 7. The cash offer also inched up to USD 2,867.5 per tonne, a 0.09 per cent increase from USD 2,865 a day earlier.
The 3-month contract showed a similar uptick. The 3-month bid firmed to USD 2,896.5 per tonne, up USD 4 or 0.14 per cent from USD 2,892.5 on December 7, while the offer improved by 0.14 per cent to USD 2,897 per tonne.
The December 26 contract recorded the strongest day-on-day move. The bid price climbed to USD 2,920 per tonne, a gain of USD 10 or 0.34 per cent from USD 2,910. The offer increased to USD 2,925 per tonne, up USD 10 or 0.34 per cent from USD 2,915 the previous session.
Explore- Most accurate data to drive business decisions with 50+ reports across the value chain
Meanwhile, the LME aluminium 3-month Asian Reference Price stood at USD 2,888 per tonne on December 8.
LME warehouse data reflected a slight tightening in available metal. Opening stock fell from 528,300 tonnes on December 7 to 525,800 tonnes on December 8, a decline of 2,500 tonnes, or 0.47 per cent.
Live warrants remained unchanged at 485,400 tonnes, while cancelled warrants eased from 42,900 tonnes to 40,400 tonnes, down 2,500 tonnes or 5.83 per cent.
In the alumina market, the LME Platts alumina price remained quoted at USD 311.48 per tonne.
Don’t miss out- Buyers are looking for your products on our B2B platform
Responses
