The LME aluminium cash bid price rose to USD 3,185 per tonne on January 12, marking a 0.17 per cent increase from USD 3,179.5 per tonne on January 9. The cash offer price climbed to 3185.5 per tonne from USD 3,180 per tonne, a parallel increase of 0.17 per cent.
In the forward market, the LME aluminium 3-month bid price increased to USD 3177 per tonne on January 12 from USD 3,161 per tonne on January 9, indicating a 0.5 per cent rise. The 3-month offer price slightly moved up to USD 3177.5 from USD 3,163 per tonne, a gain of 0.45 per cent.
For the December 27 contract, the bid price advanced to USD 3153 per tonne on January 12, up from USD 3,143 per tonne on January 9, representing a modest increase of 0.31 per cent. The offer price rose parallelly to USD 3158 per tonne from USD 3,148 per tonne, marking a similar 0.31 per cent increase.
The LME aluminium 3-month Asian Reference Price stood at USD 3,184.5 per tonne on January 12.
On the inventory front, LME aluminium opening stocks further declined to 495,825 tonnes on January 12, down from 497,825 tonnes on January 9, reflecting a 0.4 per cent decrease. Live warrants remained the same as January 9, i.e., 446,050 tonnes, and cancelled warrants fell more sharply to 49775 tonnes from 51,775 tonnes, a 3.86 per cent drop.
Meanwhile, the LME alumina Platts price was assessed at USD 309.14 per tonne.
