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LME aluminium prices showed limited movement on June 29 compared with June 26, with cash and three-month contracts recording marginal declines. Meanwhile, exchange inventories and cancelled warrants continued to trend lower.
{alcircleadd}The LME cash bid price eased to USD 3,160 per tonne on June 29 from USD 3,162 per tonne on June 26, marking a slight decline of 0.06 per cent. The cash offer price also edged down by 0.11 per cent to USD 3,160.50 per tonne from USD 3,164 per tonne.
Three-month aluminium prices followed a similar pattern. The three-month bid slipped from USD 3,174 per tonne to USD 3,164 per tonne, a decrease of 0.32 per cent, while the offer price declined from USD 3,176 per tonne to USD 3,166 per tonne, also down 0.31 per cent.
Longer-dated contracts also moved slightly lower. The December 2027 bid declined from USD 3,062 per tonne to USD 3,058 per tonne, representing a fall of 0.13 per cent, while the offer price dropped from USD 3,073 per tonne to USD 3,063 per tonne, down 0.33 per cent.
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The Asian reference price fell to USD 3,088 per tonne on June 29 from USD 3,179.50 per tonne on June 26, recording a decline of 2.88 per cent.
LME aluminium inventories continued to decrease. Opening stocks dropped by 1,500 tonnes to 306,725 tonnes from 308,225 tonnes, a decline of 0.49 per cent. Live warrants also edged lower to 246,800 tonnes from 247,575 tonnes, a decrease of 0.31 per cent.
Meanwhile, cancelled warrants fell from 59,150 tonnes to 58,425 tonnes, down 1.23 per cent.
The LME alumina Platts price remained unchanged at USD 310.19 per tonne, indicating stability in the alumina market despite the modest movements in aluminium prices.
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