LME aluminium price eases 0.3% on September 10; stocks remain stable at 244,525/t
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The London Metal Exchange (LME) aluminium price graph contracted on September 10 across cash and contracts, with longer-dated contracts reporting nearly 1 per cent decline. The aluminium opening stocks, however, remained stable.
The LME aluminium cash bid price shifted from USD 3,351.5 per tonne on September 9 to USD 3,342 per tonne on September 10, down 0.28 per cent. The LME aluminium cash offer price dipped from USD 3,353 per tonne to USD 3,343 per tonne, easing by 0.3 per cent day-on-day.
The LME aluminium three-month bid price closed at USD 3,316 per tonne, compared to USD 3,336 per tonne the previous session, representing a 0.6 per cent decline. The three-month offer price slipped by 0.6 per cent to USD 3,318 per tonne from USD 3,338 per tonne.
Continuing the downward trend, the December 27 bid and offer prices plunged by 0.96 per cent. The bid dropped from USD 3,233 per tonne to USD 3,202 per tonne, and the offer contracted from USD 3,238 per tonne to USD 3,207 per tonne.
The LME aluminium three-month Asian Reference Price on September 10 closed at USD 3,293.5 per tonne.
LME aluminium opening stock remained stable at 244,525 tonnes on September 10 compared with September 9.
Warehouse stocks moved lower. Live warrants, dropping from 240,525 tonnes on to 239,525 tonnes, marked a 0.42 per cent decline.
Cancelled warrants continued to increase, reaching 4,825 tonnes from 4,000 reporting a rise of 20.63 per cent.
The LME alumina Platts price remained unchanged at USD 353.36 per tonne.
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