The London Metal Exchange (LME) aluminium price on December 30 saw a significant rise from the previous day’s close. The expanded trend was seen in the LME inventory except for the live warrant, which witnessed a slight dip.
Both the LME cash bid and offer rose by USD 31.5 per tonne or 1.1 per cent, where the bid reached USD 2,944.5 per tonne from USD 2,913 per tonne and the offer price rose to USD 2,945 per tonne from USD 2,913.5 per tonne.
The upward trend continued for the LME 3-month bid and offer by USD 19.5 per tonne or 0.66 per cent, moving the bid to USD 2,977 per tonne, up from USD 2,957.5 per tonne and the offer at USD 2,977.5 per tonne from USD 2,958 per tonne.
At the forwards contract, the LME December 26 bid and offer inched up by USD 20 per tonne or 0.7 per cent and locked the bid at USD 3,000 per tonne from USD 2,980 per tonne and the offer price at USD 3,005 per tonne from USD 2,985 per tonne.
The 3-month Asian Reference Price also moved positively from USD 2,952 per tonne to USD 2,980 per tonne, showing a difference of USD 28 per tonne or 0.9 per cent.