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The final day of April witnessed a dip in the London Metal Exchange (LME) aluminium prices after remaining above USD 3,600 per tonne in the previous session. The close of the April 30 session recorded a decline in the aluminium prices, contracts, as well as stocks.
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The LME aluminium cash bid as well as offer price eased 2.18 per cent day-on-day on April 30. While the bid went down from USD 3,603.5 per tonne to USD 3,525 per tonne, the offer shifted from USD 3,604 per tonne to USD 3,525.5.
On April 30, the LME aluminium 3-month bid price shifted from USD 3,555 per tonne on April 29 to USD 3,480 per tonne, marking a 2.11 per cent difference. The offer price recorded a decline of 2.08 per cent, moving from USD 3,556 per tonne to 3,482 per tonne.
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Similar to the prices and near-term contracts, the downward trend reflected on the longer-dated contracts, both the Dec-27 bid and offer prices recorded a 1.66 per cent gain over the previous session. The bid, down from USD 3,125 per tonne, closed at USD 3,073 per tonne, and the offer dropped from USD 3,130 per tonne to USD 3,078 per tonne.
The LME aluminium 3-month Asian Reference Price continued to decrease, closing at USD 3,474 on April 30, down 0.42 per cent from USD 3,488.5 per tonne on April 29.
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LME aluminium stocks recorded further decline as of April 30. The opening stocks slipped from 370,275 tonnes to 368,200 tonnes, marking a 0.56 per cent decrease. In contrast, live warrants reported improvement, up from 331,675 tonnes to 332,600 tonnes, representing a dip of 0.28 per cent. Again, cancelled warrants amounted to 36,525 tonnes, recording a fall of 5.68 per cent from 34,450 tonnes.
LME alumina platts closed at USD 307.4 per tonne on April 30.
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