The London Metal Exchange (LME) aluminium market witnessed a mixed performance on August 5, with spot and three-month prices declining while longer-dated contracts and the Asian Reference Price strengthened.
LME aluminium cash bid and offer prices fell by 1.3 per cent day-on-day. The cash bid slipped from USD 3,270 per tonne to USD 3,228.5 per tonne, while the offer eased from USD 3,271 per tonne to USD 3,229 per tonne.
On August 5, the LME aluminium three-month bid price edged down by 0.22 per cent to USD 3,229 per tonne from USD 3,236 per tonne on August 4. The offer price also declined by 0.22 per cent, falling to USD 3,229.5 per tonne from USD 3,236.5 per tonne.
In the longer-dated contracts, both the Dec-27 bid and offer prices advanced by 0.38 per cent over the previous session. The bid increased to USD 3,160 per tonne from USD 3,148 per tonne, while the offer rose to USD 3,165 per tonne from USD 3,153 per tonne.
The LME aluminium three-month Asian Reference Price closed at USD 3,241 per tonne on August 5, representing a gain of 0.56 per cent from USD 3,223 per tonne on August 4.
LME aluminium opening stocks continued to decline on August 5, slipping from 262,650 tonnes to 260,900 tonnes, marking a 0.67 per cent decrease.
Live Warrants remained unchanged at 244,650 tonnes.