As of Tuesday, September 16, the London Metal Exchange (LME) aluminium price inched up from the previous day, representing a steady upward movement and improved market conditions.
The LME cash bid and offer price both showed a positive upward movement by USD 43 or 1.57 per cent, where the bid ramped up from USD 2,693 per tonne to USD 2,736 per tonne and the offer from USD 2,693.5 per tonne to USD 2,736.5 per tonne.
The 3-month bid also moved up by USD 23 or 0.85 per cent, from USD 2,694 per tonne to USD 2,717 per tonne. A similar trend is seen in the 3-month offer price, climbing by USD 22.5 per tonne or 0.83 per cent, from USD 2,695 per tonne to USD 2,717.5 per tonne,
Concurrently, both the December 26 bid and offer price gained in elevation by USD 12 per tonne or 0.44 per cent, where the bid advanced from USD 2,728 per tonne to USD 2,740 per tonne and the offer from USD 2,733 per tonne to USD 2,745 per tonne.
A difference is also seen in the 3-month Asian Reference Price, as it climbed by USD 16.5 per tonne or 0.61 per cent, from USD 2,700.5 per tonne to USD 2,717 per tonne.
The opening stock and the cancelled warrant declined by 1,500 tonnes or 0.31 per cent and are currently standing at 483,775 tonnes and 108,750 tonnes respectively. On the other hand, the live warrant showed no change from the previous day and is recorded at 375,025 tonnes.
Alumina platts price lost USD 0.1 per tonne or 0.03 per cent to reach USD 333.25 per tonne.
