The rising trend followed at the forwards contract where the LME 3-month bid rose by USD 40 per tonne or 1.33 per cent, reaching USD 3,050 per tonne from USD 3,010 per tonne. The 3-month offer expanded by USD 40.5 per tonne or 1.35 per cent to settle at USD 3,051 per tonne from USD 3,010.5 per tonne.
At the forward contract, the December 27 bid and offer inched up by USD 30 per tonne or 1 per cent from the previous day’s close, where the bid moved from USD 3,043 per tonne to USD 3,073 per tonne and the offer from USD 3,048 per tonne to USD 3,078 per tonne.
The 3-month Asian Reference Price also showed an upward movement by USD 70 per tonne or 2.32 per cent, moving from USD 3,015.5 per tonne to USD 3,085.5 per tonne.
At the inventory level, the LME opening stock and cancelled warrants inched down by 2,500 tonnes, where the opening stock on January 5 stood at 506,750 tonnes and cancelled warrants at 59,275 tonnes. However, the live warrants should no change from the previous day’s close and are still at 447,475 tonnes.
The LME alumina platts on January 5 stood at USD 304.95 per tonne, moving slightly up from USD 304 per tonne, representing a change of USD 0.95 per tonne or 0.31 per cent.
