As the year drew close to the end, the London Metal Exchange (LME) aluminium prices inched further up from the previous close. The LME inventory, both opening stock and cancelled warrants, however, decreased from the day before.
Both the LME cash bid and offer rose by USD 23 per tonne or 0.8 per cent, where the bid reached USD 2,967.5 per tonne from USD 2,944.5 per tonne and the offer price rose to USD 2,968 per tonne from USD 2,945 per tonne.
The upward trend continued for the LME 3-month bid and offer by USD 11 per tonne and USD 12.5 per tonne or 0.64 per cent, moving the bid to USD 2,988 per tonne, up from USD 2,977 per tonne and the offer at USD 2,990 per tonne from USD 2,977.5 per tonne.
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At the forwards contract, the LME December 26 bid and offer inched up by USD 10 per tonne or 0.33 per cent and locked the bid at USD 3,010 per tonne from USD 3,000 per tonne and the offer price at USD 3,015 per tonne from USD 3,005 per tonne.
The 3-month Asian Reference Price also moved positively from USD 2,980 per tonne to USD 2,995.5 per tonne, showing a difference of USD 15.5 per tonne or 0.5 per cent.
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At the inventory level, the LME opening stock on December 31 decreased to 511,750 tonnes from 514,250 tonnes, showing a difference of 2,500 tonnes or 0.5 per cent. On the contrary, the LME live warrant showed no change from the previous close and stood at 447,475 tonnes. However, the cancelled warrants on December 31 further inched down by 2,500 tonnes or 3.7 per cent, from 66,775 tonnes to 64,275 tonnes.
The LME alumina platts price on December 31 was recorded at USD 310.18 per tonne.
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