On December 18, the London Metal Exchange (LME) aluminium prices showed a very minimal uptick from the previous day’s close. However, at the inventory front, the LME opening stock showed a slight decline.
Both the LME cash bid and offer price went up by USD 1 per tonne or 0.03 per cent, where the bid reached USD 2,852 per tonne and the offer at USD 2,852.5 per tonne.
The 3-month bid rose by USD 2 per tonne or 0.07 per cent to USD 2,896 per tonne, up from USD 2,894 per tonne. On the other hand, the 3-month offer increased by USD 3.5 per tonne or 0.12 per cent, from USD 2,894.5 per tonne to USD 2,898 per tonne.
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At the forward contracts, the December 26 bid and offer escalated by USD 3 per tonne or 0.1 per cent, where the bid reached USD 2,923 per tonne and the offer price at USD 2,928 per tonne.
The 3-month Asian Reference Price also rose significantly, up by USD 10.5 per tonne or 0.4 per cent to reach USD 2,916 per tonne from USD 2,905.5 per tonne.
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At the LME inventory, on December 18, no change was witnessed in the opening stock and it is still at USD 519,600 tonnes. However, the live warrants fell by 125 tonnes, but the cancelled warrants increased by 125 tonnes and are currently at 445,800 tonnes and 73,800 tonnes, respectively.
The LME alumina price on December 18 remained unchanged from the previous day’s close and is at USD 310.48 per tonne.
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