Aluminium prices on the London Metal Exchange (LME) saw a slight increase on July 23, with both cash and 3-month contract rates moving up from the previous day.
The LME aluminium cash bid price rose to USD 2,643 per tonne, up 0.19 per cent from USD 2,638 per tonne on July 22. The cash offer price also climbed to USD 2,645 per tonne, a 0.25 per cent increase from the previous day's USD 2,638.5 per tonne.
Similarly, the 3-month bid price advanced by 0.32 per cent, moving from USD 2,638 per tonne to USD 2,646.50 per tonne, while the 3-month offer price inched up 0.27 per cent to USD 2,647 per tonne, compared to USD 2,640 per tonne a day earlier.
In the longer-dated contracts, the December 26 bid price rose slightly to USD 2,670 per tonne, up 0.07 per cent from USD 2,668 per tonne, and December 26 offer price moved up to USD 2,675 per tonne, a 0.07 per cent rise from USD 2,673 per tonne on July 22.
The LME aluminium 3-month Asian Reference Price was reported at USD 2,651 per tonne.
LME aluminium opening stock on July 23 stood at 444,800 tonnes, up 1.45 per cent from 438,450 tonnes the previous day. Live warrants rose by 1.5 per cent to 434,925 tonnes, while cancelled warrants saw a minor dip of 1 per cent to 9,875 tonnes from 9,975 tonnes on July 22.
Meanwhile, Platts alumina prices remained unchanged at USD 368.52 per tonne.
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