LME aluminium cash bid price and LME aluminium official settlement price suffered a loss of US$7.5 per tonne on Friday, August 16, after the prices increased and touched the US$2,300 per tonne level the previous day. However, marking a week-on-week increase of about 1.35 per cent, LME aluminium cash bid price and LME aluminium official settlement price closed the week at US$2,293 per tonne and US$2,293.50 per tonne, respectively.
On the same day, the 3-month bid price and 3-month offer price clocked at US$2,342 per tonne and US$2,342.50 per tonne, down by US$7 per tonne and US$7.5 per tonne from the earlier day. In contrast, the December-25 bid price and December-25 offer price inched up by US$1 per tonne on August 16 to stand at US$2,488 per tonne and US$2,493 per tonne.
LME aluminium opening stock totalled 888,975 tonnes, recording an overnight decline of 3,500 tonnes. Live warrants and Cancelled warrants amounted to 346,625 tonnes and 542,350 tonnes.
LME aluminium 3-month Asian Reference Price gained US$14.67 per tonne, reaching US$2,359.64 per tonne.
US primary aluminium production shows a 4% monthly rebound in October, but no positive change seen in YTD output
