Both the LME cash bid and offer rose by USD 18 per tonne or 0.63 per cent, where the bid reached USD 2,851 per tonne, up from USD 2,833 per tonne. The LME cash offer went up to USD 2,851.5 per tonne, up from USD 2,833.5 per tonne.
The upward trend continued in the LME 3 months bid and offer price by USD 14 per tonne or 0.5 per cent, where the bid was seen at USD 2,894 per tonne and the offer price at USD 2,880 per tonne.
Concurrently, at the LME forward contracts, both the December 26 bid and offer inched up by USD 13 per tonne or 0.44 per cent, where the bid rose to USD 2,920 per tonne from USD 2,907 per tonne and the offer rose to USD 2,925 per tonne from USD 2,912 per tonne.
There has been a good increase in the 3-month Asian Reference Price by USD 29 per tonne or 1 per cent and on December 17, it reached USD 2,905.5 per tonne, up from USD 2,876.5 per tonne.
At the inventory front, from the previous day’s close, there has been no change in the opening stocks and it is still at 519,600 tonnes. There has been a slight decline in the live warrants by 6,675 tonnes and finally stood at 445,925 tonnes on December 17. At the same quantity, the cancelled warrants saw an increase and are currently at 73,675 tonnes.
There is no change in the LME alumina platts price, which is at USD 310.48 per tonne on December 17.
