The LME aluminium cash bid price shot up to USD 3,220.5 per tonne on January 14, from USD 3,193 per tonne on January 13, marking an increase of 0.86 per cent. The cash offer price rose to USD 3,221 per tonne from USD 3,194 to per tonne, an increase of 0.84 per cent.
In the futures market, the LME aluminium 3-month bid price increased from USD 3,183 per tonne on January 13 to USD 3,204 on January 14, up by 0.65 per cent. The 3-month offer price also moved higher, rising from USD 3,183.5 per tonne to USD 3,205 per tonne, a gain of 0.67 per cent.
Prices for the December 27 contract saw a hike as well. The bid price rose to USD 3,167 per tonne from USD 3,153 per tonne with a 0.44 per cent increase, while the offer price recorded was USD 3,172 per tonne from USD 3158 per tonne, an equivalent increase by 0.44 per cent.
The LME aluminium 3-month Asian Reference Price on January 14 was recorded at USD 3,186 per tonne.
On the inventory front, LME aluminium opening stocks further declined from 494,000 tonnes on January 13 to 492,000 tonnes on January 14, representing a 0.4 per cent decrease. Live warrants remained steady at 446,575 tonnes, while cancelled warrants continued to fall from 47,425 tonnes to 45,425, another sharp decline of 4.22 per cent.
Meanwhile, the LME alumina Platts price was assessed at USD 307.86 per tonne.
