The London Metal Exchange graph on April 26, showed a decline in aluminium prices, with the LME cash bid price locking at US$2,559 per tonne, with a loss of US$27 per tonne or 1.04 per cent and the LME official price settling down at US$2,559.50 per tonne, incurring a similar plunge.
The 3-month bid price and the 3-month offer price have both slumped by US$23 per tonne or 0.88 per cent to close at US$2,586.50 per tonne and US$2,587 per tonne, respectively.
The 25 December bid price and the 25 December offer price both have negated US$24 per tonne or 0.88 per cent to officially close at US$2,688 per tonne and US$2,693 per tonne.
The opening stock has slumped by 725 tonnes or 4.06 per cent to close at 494,150 tonnes. Live and cancelled stocks parked at 153,375 tonnes and 340,775 tonnes.
The LME Asian reference price has decreased by US$6.14 per tonne or 0.24 per cent to arrive at US$2,584.69 per tonne.
Alfiniti Inc. acquires USA’s sole aluminium welded tube manufacturer, Alabama Tube Corporation
