On Tuesday, March 12, LME aluminium cash bid price and LME aluminium official settlement price built up by US$11.50 per tonne or 0.52 per cent to stand at US$2,213 per tonne and US$2,213.50 per tonne, marking about a six-week high.
Aluminium demand in the global market has recovered in the ongoing traditional peak season, but supplies from top producers in China are yet to fill the gap. In addition, a firmer US currency after inflation data above consensus also added pressure to industrial metals.
3-month bid price and 3-month offer price moved up by US$20 per tonne to reach US$2,262 per tonne and US$2,263 per tonne, respectively. December 25 bid price and December 25 offer price also added US$20 per tonne on March 12, amounting to US$2,468 per tonne and US$2,473 per tonne.
