On the contrary, the 3-month contract reflected a different trend where the price, from the previous day’s close, has increased by USD 3 per tonne or 0.1 per cent. Here, the 3-month bid moved up from USD 3,385 per tonne to USD 3,388 per tonne and the offer from USD 3,387 per tonne to USD 3,390 per tonne.
A similar shift is also seen in the longer-dated contract, where both the December 27 bid and offer moved up by USD 12 per tonne or 0.4 per cent. At the previous day’s close, the bid was seen at USD 3,177 per tonne, which, on March 10, changed to USD 3,165 per tonne and the offer was at USD 3,182 per tonne, which on the next day, stood at USD 3,170 per tonne.
The LME aluminium 3-month Asian Reference Price also saw an increase from the last day and is recorded at USD 3,406 per tonne, up from USD 3,385.5 per tonne, showing a difference of USD 20.5 per tonne or 0.6 per cent.
A major change has been noticed in the LME inventory, where the opening inched down by 2,250 tonnes, showing a change of 0.5 per cent, shifting from 456,875 tonnes on March 9 to 454,625 tonnes on March 10.
