On Friday, the LME aluminium cash bid and LME aluminium official settlement price slightly dipped by US$1 per tonne to close the week at US$2,208.50 per tonne and US$2,209 per tonne, respectively, following a surge of 1.04 per cent on the previous day.
On a week-on-week calculation, the LME aluminium benchmark price concluded on Friday at a higher rate of 1.17 per cent, shows the LME aluminium price chart on AL Circle.
On Friday, amid the LME aluminium price drop, the 3-month bid price and 3-month offer price inched up by US$1 per tonne or US$1.50 per tonne, respectively, to peg at US$2,256 per tonne and US$2,257 per tonne. The December 25 bid price and December 25 offer price also gained US$1 per tonne unanimously to rest at US$2,463 per tonne and US$2,468 per tonne.
On the same day, the LME aluminium opening stock dropped by 275 tonnes, amounting to 580,050 tonnes. Live Warrants and Cancelled Warrants totalled 349,475 tonnes and 230,575 tonnes, respectively. While the former stood restrained, the latter dropped by 275 tonnes.
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