As of Wednesday, August 27, the London Metal Exchange (LME)'s cash bid price and the offer price showed a surge, along with the 3-month cash bid and offer price. But, a dip is noticed concerning the 3-month Asian reference price and the alumina platts price.
The LME aluminium cash bid price settled at USD 2,616 per tonne, a modest gain of USD 5 per tonne or 0.19 per cent, up from USD 2,611 per tonne the previous day. On the other hand, the LME aluminium offer price stood at USD 2,618 per tonne, gain of USD 6.5 per tonne or 0.24 per cent from the previous day, which was at USD 2,611.5 per tonne.
The 3-month bid price also showed an upward movement by 0.34 per cent or USD 9 per tonne, where the recorded price stood at USD 2,616 per tonne on August 27 from USD 2,607 per tonne on August 26. On the same day, the 3-month offer price gained traction by 0.28 per cent or USD 7.5 per tonne, as the price moved up from USD 2,609 to USD 2,616.5 per tonne.
As per the LME price graph, both December 26 bid price and December 26 offer price gained USD 7 per tonne or 0.26 per cent to halt at USD 2,662 per tonne and USD 2,667 per tonne.
The 3-month LME aluminium Asian Reference Price closed at USD 2,602.5 per tonne on August 27, representing a dip of 1.36 per cent or USD 35.5 per tonne.
The LME aluminium opening stock stood at 481250 tonnes, up from 478075 tonnes, showcasing a day-on-day increase of 0.66 per cent. Live warrants also showed a steady upward movement by 0.69 per cent, to 468750 tonnes from 465475 tonnes yesterday. On the other hand, the cancelled warrant showed a slight dip of 0.79 per cent from 12600 tonnes to 12500 tonnes.
Alumina (platts) price
As of August 27, the alumina price was recorded at USD 368.88 per tonne, reflecting a dip of 0.15 per cent or USD 0.57 per tonne from the previous day.
Also read: LME aluminium offer price climbs to $2,611.5/t; opening stocks edge down to 478,075t
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