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London Metal Exchange (LME) aluminium prices moved lower on July 31 after recording gains in the previous session. Both cash and forward aluminium contracts declined, while warehouse inventories continued to fall. In contrast, the LME alumina Platts price increased.
{alcircleadd}The LME aluminium cash bid price fell 1.05 per cent to USD 3,195 per tonne from USD 3,229 per tonne on July 30, while the cash offer price declined 1.08 per cent to USD 3,196 per tonne from USD 3,231 per tonne.
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The three-month aluminium bid price also edged down 0.20 per cent to USD 3,178.5 per tonne from USD 3,185 per tonne. The offer price also edged down by 0.25 per cent, moving from USD 3,187 per tonne to USD 3,179 per tonne.
On the longer-dated contracts, both the Dec-27 bid and offer prices declined by around 0.32 per cent from the previous session. The bid settled at USD 3,108 per tonne, down from USD 3,118 per tonne, while the offer eased to USD 3,113 per tonne from USD 3,123 per tonne.
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The LME aluminium Asian reference price stood at USD 3,184 per tonne on July 31, down 0.36 per cent from USD 3,195.5 per tonne on July 30.
LME aluminium inventories continued to decline as of July 31. Opening stocks decreased 0.56 per cent to 266,300 tonnes from 267,800 tonnes.
Live warrants remained unchanged at 245,250 tonnes, while cancelled warrants fell 9.03 per cent to 19,150 tonnes from 21,050 tonnes.
Meanwhile, the LME alumina Platts price rose 2.55 per cent to USD 346 per tonne from USD 337.38 per tonne in the previous session.
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