The London Metal Exchange (LME) aluminium price on December 12 inched down from the previous day’s close. On the other hand, the LME opening stock and cancellations rose, but the live warrant witnessed a dip.
The LME cash bid moved down by USD 17 per tonne or 0.6 per cent and settled at USD 2,845 per tonne on December 12. Similarly, the cash offer went down by USD 18.5 per tonne or 0.64 per cent and reached USD 2,845.5 per tonne.
Both the LME 3-month bid and offer fell by USD 10 per tonne or 0.34 per cent, where the bid settled at USD 2,875 per tonne and the offer at USD 2,876 per tonne.
Concurrently, the LME December 26 forward contracts also collapsed by USD 10 per tonne or 0.34 per cent, where the bid settled at USD 2,902 per tonne and the offer at USD 2,907 per tonne, respectively.
Meanwhile, the 3-month Asian Reference Price on December 12 stood at USD 2,868.5 per tonne, down by USD 31 per tonne or 1.2 per cent.
At the inventory front, the LME opening stock grew by 900 tonnes or 0.2 per cent and reached 519,650 tonnes, up from 518,750 tonnes. The live warrant collapsed by 775 tonnes and reached 484,625 tonnes, down from 485,400 tonnes. However, the cancelled warrant increased by 1,675 tonnes or 5 per cent and is currently at 35,025 tonnes.
The alumina Platts price stood at USD 311 per tonne.
