LME aluminium price dips slightly to $3,055/t on October 12; Asian Ref Price rises 0.13%
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The London Metal Exchange (LME) aluminium price graph registered marginal dips across the pricing and contract segments in the October 12 trading session, compared to the October 9 close. The three-month Asian Reference Price reported a rise, while the opening stocks and live warrants remained stable.
The LME aluminium cash bid and offer prices dipped by 0.02 per cent day-on-day. The bid contracted from USD 3,055 per tonne to USD 3,054.5 per tonne. The offer price moved from USD 3,055.5 per tonne to USD 3,055 per tonne.
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Unlike the upward trend recorded on the October 9 close, LME aluminium three-month bid on October 12 slumped from USD 3,069 per tonne to USD 3,058 per tonne, decreasing by 0.36 per cent. The offer price plunged from USD 3,070 per tonne to USD 3,060 per tonne, representing a 0.33 per cent dip.
Continuing along the downward curve, the December 27 bid and offer prices reported a 0.23 per cent decline. The bid slipped to USD 3,020 per tonne from USD 3,027 per tonne, and the offer closed at USD 3,025 per tonne, decreasing from USD 3,032 per tonne.
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The LME aluminium three-month Asian Reference Price closed at USD 3,052.5 per tonne on October 12, reporting a 0.13 per cent rise over USD 3,048.5 per tonne reported on October 9.
On the aluminium inventory front, the LME aluminium opening stocks remained stable at 238,875 tonnes on October 12. Similarly, the live warrants held firm at 226,825 tonnes as in the previous session.
Cancelled warrants, however, fell from 17,325 tonnes to 17,075 tonnes, representing a 1.44 per cent decline.
LME alumina Platts stood at USD 382.34 per tonne on October 12, reporting a 2.75 per cent gain over USD 372.11 per tonne reported at the October 9 close.
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