On Thursday, July 31, both LME aluminium cash bid price and LME aluminium official settlement price witnessed significant drop of USD 30.5 per tonne or 1.16 per cent and USD 31 per tonne or 1.18 per cent, compared to the previous day.
This drop can be attributed to the ongoing economic concerns in China, where manufacturing activity shrank for the fourth straight month. As per the LME price graph, from Monday to Thursday, the prices have shown a fluctuating output.
On the same day, both 3-month bid price and 3-month offer price also declined by USD 33 per tonne or 1.24 per cent and USD 33.5 per tonne or 1.28 per cent. The prices closed at USD 2,581 per tonne and USD 2,581.5 per tonne.
December 26 bid price and December 26 offer price dropped by USD 33 per tonne to halt at USD 2,625 per tonne and USD 2,630 per tonne.
LME aluminium 3-month Asian Reference Price slumped by USD 36 per tonne or 1.38 per cent to clock at USD 2,565 per tonne.
Also Read: LME aluminium cash price rises to $2,610/t on July 30; opening stock up 0.93%
LME aluminium opening stock came in at 461,025 tonnes. Live warrants stood at 447,000 tonnes and Cancelled warrants settled at 14025 tonnes.
Alumina price
Alumina platts price inched down by USD 0.04 per tonne to settle at USD 369.09 per tonne.
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