The 3-month bid and offer also moved down by USD 37.5 per tonne or 1.2 per cent, where the bid shifted from USD 3,175.5 per tonne to USD 3,138 per tonne and the offer from USD 3,176 per tonne to USD 3,138.5 per tonne.
A similar trend was witnessed at the forward contracts as well, where the December 27 bid and offer inched down by USD 25 per tonne or 0.8 per cent, where the bid is recorded at USD 3,120 per tonne from USD 3,145 per tonne and offer at USD 3,125 per tonne from USD 3,150 per tonne.
The downward trend is followed in the 3-month Asian Reference Price, where on January 16 it stood at USD 3,134 per tonne from USD 3,167.5 per tonne, showing a difference of USD 33.5 per tonne or 1.6 per cent.
At the inventory level, the opening stock moved down by 2,000 tonnes and is currently at 488,000 tonnes, down from 490,000 tonnes. A similar difference is seen at the cancelled warrant, where it reached 41,425 tonnes, down from 43,425 tonnes. However, live warrants remained unchanged at 446.575 tonnes.
The LME alumina platts price reflected no change from the previous day’s close and is still at USD 307.86 per tonne.
