LME aluminium offer price slips to $3,292.5/t as lower exchange stocks point to tighter availability
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LME aluminium prices edged lower on September 4 compared with the previous trading day, while aluminium stocks also declined marginally. The most notable movement was in cancelled warrants, which fell by more than 38 per cent day on day.
On September 4, the LME aluminium cash bid price stood at USD 3292 per tonne, down 0.30 per cent from USD 3302 per tonne on September 3. The cash offer price stood at USD 3292.5 per tonne, compared with USD 3303 per tonne a day earlier, marking a 0.32 per cent decline.
The LME aluminium 3-month bid price stood at USD 3292 per tonne on September 4, down 0.33 per cent from USD 3303 per tonne on September 3. The 3-month offer price stood at USD 3293 per tonne, compared with USD 3303.5 per tonne previously, representing a 0.32 per cent decline.
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Further along the forward curve, the December 27 bid price stood at USD 3203 per tonne on September 4, down 0.37 per cent from USD 3215 per tonne on September 3. The December 27 offer price stood at USD 3208 per tonne, compared with USD 3220 per tonne previously, also declining 0.37 per cent.
The LME aluminium 3-month Asian Reference Price stood at USD 3293.5 per tonne on September 4.
Meanwhile, LME aluminium opening stocks stood at 245,975 tonnes on September 4, down 0.10 per cent from 246,225 tonnes on September 3. Live warrants remained unchanged at 242,200 tonnes, while cancelled warrants fell to 2,325 tonnes from 3,775 tonnes, a sharp 38.41 per cent decline.
The LME alumina Platts price stood at USD 350.09 per tonne on September 4.
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