Following a growth the previous day, the London Metal Exchange (LME) aluminium prices on Wednesday, September 17, went down the graph by USD 46 per tonne or 1.68 per cent and USD 45.5 per tonne or 1.66 per cent.
Both the cash bid price and official settlement price closed at USD 2,690 per tonne and USD 2,691 per tonne from USD 2,736 per tonne and USD 2,736.5 per tonne. One of the reasons for the drop can be attributed to lacklustre trade in base metals.
On the same day, both 3-month bid price and 3-month offer price also lost USD 34 per tonne or 1.25 per cent to clock at USD 2,683 per tonne and USD 2,683.5 per tonne.
December 26 bid price and December 26 offer price climbed down the graph by USD 23 per tonne or 0.83 per cent to halt at USD 2,717 per tonne and USD 2,722 per tonne.
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LME aluminium 3-month Asian Reference Price declined by USD 34 per tonne or 1.25 per cent to settle at USD 2,683 per tonne.
LME aluminium opening stock, Live warrants and Cancelled warrants remained unchanged at 483,775 tonnes, 375,025 tonnes and 108,750 tonnes.
Alumina price
Alumina (platts) price also showed no change at USD 333.25 per tonne.
Also Read: Why aluminium is being pulled from Malaysia’s LME warehouses: demand or costs?
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