On December 2, the London Metal Exchange (LME) aluminium cash price fell slightly, but other contracts continued the upward trend. The inventory further dropped from the previous day’s close.
The LME cash bid fell by USD 1 per tonne or 0.03 per cent to reach USD 2,858 per tonne and the cash offer dropped by USD 1.5 per tonne or 0.05 per cent and concluded at USD 2,858.5 per tonne on December 2.
From the previous close, the 3-month bid and offer rose by USD 4 per tonne or 0.13 per cent, where each settled at USD 2,887 per tonne and USD 2,888 per tonne.
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Concurrently, the prices for the longer-dated contract also strengthened, with the December 26 bid and offer price increased by USD 6 per tonne or 0.2 per cent, advancing to USD 2,918 per tonne and USD 2,923 per tonne, respectively.
The LME aluminium 3-month Asian Reference Price on December 2 declined by USD 28 per tonne or 1 per cent and stood at USD 2,865 per tonne, down from USD 2,893 per tonne.
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At the inventory front, both the LME opening stock and cancelled warrants fell by 2,000 tonnes and each reached 535,900 tonnes and 50,325 tonnes. Like the previous day, the LME cancelled warrant showed no change and stands firm at 485,575 tonnes.
The LME alumina Platts price stood at USD 313.5 per tonne, reflecting no change from the previous day’s close.
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