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After nearing USD 3,200 per tonne in the previous trading session, the London Metal Exchange (LME) aluminium price graph cooled across almost all the pricing and inventory segments at the July 28 close.
{alcircleadd}The LME aluminium cash bid price eased 1 per cent day-on-day on July 28, shifting from USD 3,191 per tonne to USD 3,159 per tonne. The offer price, moving from USD 3,192 per tonne to USD 3,159.5 per tonne, recorded a slightly higher 1.02 per cent dip.
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On July 28, the LME aluminium 3-month bid price contracted by 1.16 per cent to USD 3,143 per tonne from USD 3,180 per tonne on July 27. The offer price recorded a decline of 1.18 per cent, moving from USD 3,181 per tonne to USD 3,143.5 per tonne.
In the longer-dated contracts, both the Dec-27 bid and offer prices recorded a 0.96 per cent slump over the previous session. The bid closed at USD 3,080 per tonne, slipping from USD 3,110 per tonne, and the offer eased to USD 3,085 per tonne from USD 3,115 per tonne.
The LME aluminium 3-month reference price closed at USD 3,147.5 per tonne on July 28, dipping 0.63 per cent from USD 3,167.5 per tonne on July 27.
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On the inventory front, LME aluminium stocks recorded further decline as of July 28. The opening stocks slipped from 272,775 tonnes to 271,275 tonnes, marking a 0.55 per cent decrease.
Live Warrants remained stable at 245,350 tonnes.
Unlike the declining trend in the other segments, cancelled warrants amounted to 23,950 tonnes, rising 7.62 per cent from 25,925 tonnes.
LME alumina Platts closed at USD 337.38 per tonne on July 28, representing a 2.56 per cent drop from USD 346.25 per tonne recorded on July 27.
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