The London Metal Exchange (LME) aluminium prices on December 16 showed a slightly lower price than the previous day’s close. On the other hand, at the inventory front, the live warrants and cancelled warrants rose slightly.
On December 16, both the LME cash bid and offer fell by USD 7.5 per tonne or 0.3 per cent, where the bid reached USD 2,833 per tonne, down from USD 2,840.5 per tonne and the final offer went to USD 2,833.5 per tonne, down from USD 2,841 per tonne.
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The LME 3-month bid showed no change from the previous day’s close and is still at USD 2,880 per tonne. On the contrary, the LME 3-month offer moved up slightly by USD 0.5 per tonne or 0.02 per cent and settled at USD 2,881 per tonne.
Concurrently, both the December 26 forward contracts also showed no change from the previous close, where the bid was seen at USD 2,907 per tonne and the offer price at USD 2,912 per tonne.
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The 3-month Asian Reference Price widened by USD 10.5 per tonne or 0.4 per cent, where on December 16 it went to USD 2,876.5 per tonne, up from USD 2,866 per tonne.
At the inventory front, the opening stock reflected no change and is still at 519,600 tonnes. However, the live warrants and cancelled warrants expanded by 32,025 tonnes and each is currently at 452,600 tonnes and 67,000 tonnes.
The LME alumina platts price also inched down from USD 311 per tonne to USD 310.48 per tonne, representing a decline of USD 0.52 per tonne or 0.2 per cent.
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