At the same time, at the 3-month forward contracts, both bid and offer inched up by USD 44.5 per tonne or 15 per cent, where the bid reached USD 3,107.5 per tonne from USD 3,063 per tonne. The LME offer shifted to USD 3,108 per tonne from USD 3,063.5 per tonne.
A similar trend was seen at the December 27 forwards contract, where both the bid and offer expanded by USD 33 per tonne or 1.1 per cent, where the bid went up to USD 3,073 per tonne and the offer to USD 3,078 per tonne from USD 3,040 per tonne and USD 3,045 per tonne, respectively.
The 3-month Asian Reference Price on February 9 stood at USD 3,125.5 per tonne from USD 3,085 per tonne, showing a shift of USD 40.5 per tonne or 1.31 per cent from the previous day’s close.
There has been a slight change at the inventory level as well, where the opening stock moved from 490,975 tonnes to 488,975 tonnes, representing a difference of 2,000 tonnes or 0.4 per cent. A similar trend is seen in the cancelled warrant when it changed from 50,325 tonnes to 48,325 tonnes, showing a change of 2,000 tonnes or 4 per cent. However, from the previous close, the live warrant did not reflect any change and still remains at 440,650 tonnes.
The LME alumina platts on February 9 is priced at USD 308.73 per tonne.
