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After remaining above USD 3,600 per tonne for two sessions, LME aluminium prices dropped below the all-time high mark on the April 15 session.
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The LME aluminium cash bid as well as offer price eased 1.21 per cent day-on-day on April 15. While the bid went down from USD 3,624 per tonne to USD 3,580 per tonne, the offer shifted from USD 3,625 per tonne to USD 3,581.
On April 15, the LME aluminium 3-month bid price remained stable as that on April 14, at USD 3,565 per tonne. The offer price recorded a slight decline of 0.01 per cent, moving from USD 3,566 per tonne to 3565.50 per tonne.
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Unlike the declining trend in prices and near-term contracts, on the longer-dated contracts, both the Dec-27 bid and offer prices recorded a 2.83 per cent gain over the previous session. The bid closed at USD 3,105 per tonne, climbing from USD 3,017 per tonne, and the offer soared to USD 3,110 per tonne to USD 3,022 per tonne.
The LME aluminium 3-month reference price closed at USD 3,621.5 on April 15, up 1.64 per cent from USD 3,563 per tonne on April 14.
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LME aluminium stocks recorded further decline as of April 15. The opening stocks slipped from 397,100 tonnes to 395,975 tonnes, marking a 0.28 per cent decrease. Live Warrants slumped from 355,575 tonnes to 338,750 tonnes, representing a dip of 4.73 per cent.
In contrast, cancelled warrants amounted to 55,025 tonnes, rising 36.2 per cent from 40,400 tonnes.
LME alumina platts closed at USD 305.74 per tonne on April 15.
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