A sharp decline has been seen in the London Metal Exchange (LME) aluminium cash bid and offer, 3-month bid and offer, December 26 bid and offer as well as the price of alumina platts. However, no change is witnessed in opening stock, live warrants and cancelled warrants.
On Thursday, September 4, the LME cash bid price was recorded at USD 2,605.5 per tonne, down from USD 2,616 per tonne, resulting in a total difference of USD 10.5 per tonne or 0.40 per cent. A similar trend is also observed in the offer price, which fell to USD 2,606 per tonne from USD 2,617 per tonne, reflecting a downward movement of USD 11 per tonne or 0.42 per cent.
Like the cash price, the 3-month bid and offer price also replicated a negative movement where the bid went down to USD 2,600 per tonne from 2,614 per tonne, contemplating a difference of USD 14 per tonne or 0.53 per cent. Simultaneously, the 3-month offer also fell to USD 2,602 per tonne from USD 2,614.5 per tonne, showcasing a contrast of USD 12.5 per tonne or 0.47 per cent.
Homogeneously, the December 26 bid price slumped from USD 2,662 per tonne to USD 2,650 per tonne. In parallel to this, the December 26 offer price came down from USD 2,667 per tonne to USD 2,655 per tonne. They both showed a difference of USD 12 per tonne or 0.45 per cent, respectively.
LME aluminium 3-month Asian Reference Price also declined by USD 27.5 per tonne or 1.05 per cent, where it fell from USD 2,619 per tonne to USD 2,519.50 per tonne.
On the other hand, no change has been observed in terms of the opening stock, live warrants and cancelled warrants, where each stood at 479,600 tonnes, 468,750 tonnes and 10,850 tonnes, respectively.
The alumina platts price inched down from USD 356.18 per tonne to USD 354.89 per tonne, mirroring a difference of USD 1.29 per tonne or 0.36 per cent.
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