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London Metal Exchange (LME) aluminium prices witnessed a decline in the cash price on the June 5 session. Contracts, however, improved from the closing figures of June 4, while stocks returned to the declining graph.
{alcircleadd}The LME aluminium cash bid as well as offer prices eased 0.08 per cent day-on-day. The bid slumped from USD 3,738 per tonne on June 4 to USD 3,735 per tonne on June 5. Similarly, the offer shifted from USD 3,739 per tonne to USD 3,736 per tonne.
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Contrary to the cash trend, LME aluminium three-month bid price shifted from USD 3,662 per tonne on June 4 to USD 3,669 per tonne on June 5, rising by 0.19 per cent. The offer price increased 0.18 per cent, moving from USD 3,663 per tonne to USD 3,669.5 per tonne.
Similar to the near-term contracts, the longer-dated contracts saw an upward trend. Both the Dec-27 bid and offer prices recorded a 0.55 per cent gain over the previous session. The bid surged from USD 3,257 per tonne to USD 3,275 per tonne, and the offer improved from USD 3,262 per tonne to USD 3,280 per tonne.
The declining trend reappeared on the LME aluminium three-month Asian Reference Price, down 2.02 per cent from USD 3,666 per tonne on June 4 to USD 3,592 per tonne on June 5.
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LME aluminium opening stocks slipped by 0.07 per cent from 335,450 tonnes on June 4 to 335,200 tonnes on June 5. Live warrants remained stable as in the previous session at 254,625 tonnes.
Cancelled warrants, however, recorded a dip of 2.48 per cent, down from 80,575 tonnes to 78,575 tonnes.
LME alumina platts depicted no change from USD 305 per tonne as recorded in the previous close.
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