LME aluminium cash offer slips to USD 2,841/t as futures edge higher

The London Metal Exchange (LME) aluminium cash bid and offer price saw a further decline on December 15 in comparison to the previous day’s close. However, the forward contracts and 3-month bid and offer rose slightly.

On December 15, both the LME cash bid and offer dipped by USD 5.5 per tonne or 0.2 per cent, where the bid declined from USD 2,845 per tonne to USD 2,840.5 per tonne and the offer price from USD 2,845.5 per tonne to USD 2,841 per tonne.

On the other hand, the 3-month bid rose by USD 5 per tonne or 0.2 per cent, up from USD 2,875 per tonne to USD 2,880 per tonne. The LME 3-month offer rose by USD 4.5 per tonne or 0.15 per cent to reach USD 2,880.5 per tonne, up from USD 2,876 per tonne.

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At the forward contracts, both the December bid and offer moved up by USD 5 per tonne or 0.2 per cent, where the bid stood at USD 2,907 per tonne, up from USD 2,902 per tonne and the offer at USD 2,912 per tonne, up from USD 2,907 per tonne.

However, from the previous day’s close, the 3-month Asian Reference Price decreased by USD 2.5 per tonne or 0.1 per cent to finally settle at USD 2,866 per tonne from USD 2,868.5 per tonne on December 15.

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At the inventory level, both the LME opening stock and cancelled warrants went down by 50 tonnes and are recorded at 519,600 tonnes and 34,975 tonnes, respectively. The LME live warrants did not reflect any change from the previous close and are still at 484,625 tonnes.

The LME alumina platts price on December 15 is recorded at USD 311 per tonne.

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