LME aluminium price: Cash offer dips 0.66% to $3,063/t; opening stock falls 0.41%

The LME aluminium price recorded a broad decline on February 10 compared with the previous trading session, with cash, 3-month, and forward contracts all edging lower alongside a drop in warehouse inventories.On February 10, the LME aluminium cash bid price stood at USD 3062.5 per tonne, down 0.66 per cent from USD 3083 per tonne on February 9. The cash offer price was USD 3063 per tonne, also falling 0.66 per cent from USD 3083.5 per tonne.

The LME aluminium price for the 3-month contract followed a similar trend. The bid price came in at USD 3091 per tonne, marking a 0.53 per cent decrease from USD 3107.5 per tonne, while the offer price slipped 0.48 per cent to USD 3093 per tonne from USD 3108 per tonne a day earlier.

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In forward dealings, the December 27 bid price was USD 3067 per tonne, down 0.20 per cent from USD 3073 per tonne. The December 27 offer price declined 0.19 per cent to USD 3072 per tonne, compared with USD 3078 per tonne on February 9.

The LME aluminium 3-month Asian Reference Price on February 10 stood at USD 3093 per tonne.

Inventory data also reflected softer market conditions for the LME aluminium price. Opening stock fell to 486,975 tonnes on February 10 from 488,975 tonnes on February 9, representing a 0.41 per cent decrease. Live warrants remained unchanged at 440,650 tonnes, while cancelled warrants dropped to 46,325 tonnes from 48,325 tonnes, a sharper 4.14 per cent fall.

Separately, the LME alumina Platts price stood at USD 308.73 per tonne.

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