A positive upward movement has been witnessed in the London Metal Exchange (LME) aluminium price on Wednesday, September 10. However, a slight negative downward movement has been seen in alumina platts price by USD 0.69 per tonne or 0.20 per cent.
The LME cash bid price went up from USD 2,620 per tonne to USD 2,623 per tonne, reflecting a positive change of USD 3 per tonne or 0.11 per cent. A similar trend is seen on LME cash offer price when it inched up from USD 2,621 per tonne to USD 2,623.5 per tonne, showing an increase of USD 2.5 per tonne or 0.09 per cent.
Uniformly, the 3-month bid price also moved up when it shifted from USD 2,616.5 per tonne to USD 2,620 per tonne, owing to a difference of USD 3.5 per tonne or 0.13 per cent. 3-month offer price replicated a similar bent when it pushed up from USD 2,617 per tonne to USD 2.622 per tonne, signifying a positive uptrend by USD 5 per tonne or 0.19 per cent.
Both the December 26 bid and offer prices grew by USD 3 per tonne or 0.11 per cent, where the bid went up from USD 2,662 per tonne to USD 2,665 per tonne, and the offer grew from USD 2,667 per tonne to USD 2,670 per tonne.
LME aluminium 3-month Asian Reference Price also went up by USD 2.5 per tonne or 0.09 per cent, where it currently stands at USD 2,625 per tonne, up from USD 2,622.5 per tonne.
The LME opening stock, live warrants and cancelled warrants showed no change and each stood at 485,275 tonnes, 375,025 tonnes and 110,250 tonnes respectively.
The alumina platts price inched down by USD 0.69 per tonne or 0.20 per cent and is currently at USD 340.61 per tonne.
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