The London Metal Exchange (LME) aluminium prices on December 3 have further inched down from the previous close. However, the 3-month Asian Reference Price showed an upward movement.
The LME cash bid declined from USD 2,858 per tonne to USD 2,853 per tonne, representing a decline of USD 5 per tonne or 0.2 per cent. The cash offer price reduced from USD 2,858.5 per tonne to USD 2,854 per tonne, showing a dip of USD 4.5 per tonne or 0.15 per cent.
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The 3-month bid and offer also dipped by USD 5 per tonne or 0.2 per cent, where the bid came down to USD 2,882 per tonne from USD 2,887 per tonne, and the offer at USD 2,883 per tonne from USD 2,888 per tonne.
The prices for the longer-dated contract also declined by USD 1 per tonne or 0.03 per cent, where the bid was at USD 2,917 per tonne and the offer at USD 2,922 per tonne.
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The LME aluminium 3-month Asian Reference Price on December 3 rose by USD 32 per tonne or 1.1 per cent to settle at USD 2,897 per tonne.
At the inventory side, the opening stock from the previous day's close declined by 2,500 tonnes or 0.5 per cent to 533,400 tonnes. The live warrant fell by 175 tonnes or 0.03 per cent, and on December 3, it was at 485,400 tonnes. Concurrently, the LME cancelled warrants further dipped by 2,325 tonnes or 4.6 per cent and is at 48,000 tonnes.
The LME alumina Platts price stood at USD 313.5 per tonne, reflecting no change from the previous day’s close.
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