Aluminium prices on the London Metal Exchange (LME) edged down on Tuesday, with slight movement across spot and futures contracts, while inventories saw a modest build and alumina prices slipped.
The LME aluminium cash bid price slipped to USD 2,567.50 per tonne, down 0.27 per cent from USD 2,574.50 per tonne on Monday, August 4. The LME aluminium cash offer price followed suit, easing to USD 2,568 per tonne, a 0.27 per cent decrease from USD 2,575 per tonne the day prior.
A similar trend was observed in the 3-month contract prices, with the bid falling to USD 2,566 per tonne (down 0.08 per cent) and the offer price to USD 2,568 per tonne (down 0.08 per cent) from USD 2,568 per tonne and USD 2,570 per tonne respectively, recorded on Monday.
However, longer-dated contracts reflected a slightly firmer tone. The December 26 bid price rose to USD 2,625 per tonne a 0.27 per cent gain from USD 2,618 per tonne while the offer price moved up to USD 2,630 per tonne compared to USD 2,623 per tonne on August 4.
The LME 3-month Asian Reference Price on August 5, stood at USD 2,562.50 per tonne.
In metals inventory activity, LME aluminium opening stock climbed to 466,025 tonnes on Tuesday, up 0.50 per cent from 463,725 tonnes the previous day.
Live warrants increased to 452,950 tonnes, a marginal 0.16 per cent rise from 452,225 tonnes, while cancelled warrants jumped 13.70 per cent to 13,075 tonnes, up from 11,500 tonnes on August 4.
The Platts alumina price slipped by 0.48 per cent, settling at USD 373.19 per tonne on August 5, down from USD 375 recorded the day before.
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