After a slight dip, the London Metal Exchange (LME) on Thursday, September 25, the aluminium price inched up again.
The LME cash bid and offer price went up by USD 38.5 per tonne or 1.5 per cent, up from USD 2,622.5 per tonne to USD 2,661 per tonne and USD 2,623 per tonne to USD 2,661.5 per tonne respectively.
The 3-month contract expanded with the bid growing from USD 2,624 per tonne to USD 2,665 per tonne, showing an increase of USD 41 per tonne or 1.6 per cent. Similarly, the 3-month offer also went up from USD 2,625 per tonne to USD 2,665.5 per tonne, representing an increase of USD 40.5 per tonne or 1.54 per cent.
Also read: The World of Aluminium Extrusions – Industry Forecast to 2032
The rising trend continues as the December 26 bid and offer price went up by USD 35 per tonne or 1.31 per cent, closing at USD 2,705 per tonne and USD 2,710 per tonne.
Meanwhile, the LME aluminium three-month Asian Reference Price surged by USD 7 per tonne or 0.26 per cent, up from USD 2,651.5 per tonne to USD 2,658.5 per tonne.
On the inventory side, LME opening stocks also rose, depicting an increase of 1,225 tonnes or 0.23 per cent from 517,150 tonnes to 515,925 tonnes. Live warrants climbed by 475 tonnes or 0.05 per cent, from 407,375 tonnes to 407,850 tonnes, while cancelled warrants dropped by 1,700 tonnes or 1.54 per cent, from 109,775 tonnes to 108,075 tonnes.
The LME alumina Platts price remained unchanged at USD 332.66 per tonne.
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