The LME aluminium cash bid price climbed to USD 3,044.5 per tonne on February 6 from USD 3,013.5 per tonne on February 5, increasing by 1.03 per cent. The cash offer price also rose by 1.03 per cent, to USD 3,045 per tonne from USD 3,014 per tonne.
In the forward market, the LME aluminium 3-month bid price increased to USD 3,063 on February 6 from USD 3,036 per tonne on February 5, a gain of 0.89 per cent. The 3-month offer price rose to USD 3,063.5 from USD 3,037 per tonne, reflecting a 0.87 per cent increase.
The December 27 aluminium contract saw a decline. The bid price reached USD 3,040 on February 6 from 3,003 per tonne on February 5, rising by 1.23 per cent. The offer price followed the trend, settling at USD 3,045 per tonne from USD 3,008 per tonne, reflecting a parallel increase of 1.23 per cent.
The LME aluminium 3-month Asian Reference Price stood at USD 3,085 per tonne on February 6, depicting a sharp rise of 1.88 per cent from USD 3,027 per tonne on the previous session.
On the inventory side, however, a declining trend was noted. LME aluminium opening stocks slipped to 490,975 tonnes on February 6 from 492,975 tonnes on February 5, marking a 0.4 per cent decrease. Live warrants remained unchanged at 440,650 tonnes, while cancelled warrants dropped to 52,325 tonnes to 50,325 tonnes, another sharp decrease of 3.82 per cent.
Meanwhile, the LME alumina Platts price was assessed at USD 308.73 per tonne on February 6, recording a rise from the previous day’s 307.93 tonnes by 0.26 per cent.
