On Tuesday, June 18, LME aluminium cash bid price and LME aluminium official settlement price increased by US$7.50 per tonne and US$7 per tonne, following a steep fall on the earlier day influenced by low consumption of metal in the Chinese market due to off-season. The LME prices on Tuesday stood at US$2,427 per tonne and US$2,427.50 per tonne.
Conversely, on the same day, 3-month bid price and 3-month offer price unanimously dropped by US$4 per tonne to stand at US$2,481 per tonne and US$2,483 per tonne, respectively.
December-25 bid price and December-25 offer price, on the other hand, also grew amounting to US$2,628 per tonne and US$2,633 per tonne versus US$2,618 per tonne and US$2,623 per tonne on June 17.
LME aluminium opening stock continued to decrease by 5,275 tonnes from 1,073,950 tonnes June 17 to 1,0686,75 tonnes on June 18. Live Warranats and Cancelled Warrants totalled 483,575 tonnes and 585100 tonnes, respectively.
3-month Asian Reference Price hiked on the same day by US$58 per tonne from US$2429.36 per tonne to US$2,487.36 per tonne.
