On Tuesday, September 12, the LME aluminium cash bid price and the LME aluminium official settlement price dropped marginally by US$0.50 per tonne and US$1 per tonne to stand at US$2,152.50 per tonne and US$2,153 per tonne, respectively.
Since the beginning of the month, the LME aluminium benchmark price has showcased a downtrend, with only two intermittent hikes. To date, the price has decreased by 1.42 per cent or US$31 per tonne from US$2,184 per tonne.
However, on the other hand, the 3-month bid price and the 3-month offer price increased on Tuesday by US$4.50 per tonne and US$4 per tonne to settle at US$2,198.50 per tonne and US$2,199 per tonne, respectively. The December 24 bid price and the December 24 official price grew by US$2 per tonne to close at US$2,340 per tonne and US$2,345 per tonne.
The LME aluminium opening stock declined further by 3,000 tonnes on September 12 to stand at 493,875 tonnes. Live warrants stood at 228,300 tonnes, down by 175 tonnes, and Cancelled warrants clocked at 265,575 tonnes, losing 1,825 tonnes from the previous day.
LME aluminium 3-month Asian Reference Price also dipped slightly to stand at US$2,202.17 per tonne.
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