Aluminium prices have been significantly down since the beginning of July. After witnessing bearish growth for the past two days, on Thursday, both LME aluminium cash bid price and LME aluminium official settlement price dwindled by US$47 per tonne, or 2.07 per cent, and US$47.5 per tonne, or 2.09 per cent, to settle at US$2,218 per tonne and US$2,218.50 per tonne, respectively.
W-o-W, the benchmark price also fell US$116.5 per tonne, or 4.98 per cent, from US$2,335 per tonne.
The 3-month bid price and 3-month offer price also declined by US$37 per tonne, or 1.60 per cent and 1.59 per cent, to US$2,275 per tonne and US$2,276 per tonne, respectively. The December 25 bid price and December 25 offer price slumped by US$35 per tonne, or 1.41 per cent, to US$2,430 per tonne and US$2,435 per tonne.
LME aluminium opening stock came in at 947225 tonnes. Live warrants and Cancelled warrants stood at 399050 tonnes and 548175 tonnes. LME aluminium 3-month Asian Reference Price moved down by US$5.4 per tonne or 0.23 per cent to settle at US$2,290.01 per tonne.
China's A00 Aluminium ingot market initiated the week with a decline of RMB 50/t with stable raw material prices
