The LME cash bid price fell to USD 3,358.50 per tonne on June 16 from USD 3,418.50 per tonne on June 15, indicating a decrease of 1.76 per cent. The cash offer price also dropped by 1.77 per cent to USD 3,359 per tonne from USD 3419.5 per tonne.
Three-month aluminium prices followed a similar trend. The three-month bid slipped from USD 3,430 per tonne to USD 3,388.50 per tonne, representing a decline of 1.21 per cent, while the offer price also fell by 1.21 per cent, dropping from USD 3,431 per tonne to USD 3,389.50 per tonne
Longer-dated contracts were relatively stable. The December 2027 bid edged down from USD 3,208 per tonne to USD 3,203 per tonne, a decrease of 0.16 per cent, while the offer price also slipped by 0.16 per cent, falling from USD 3,213 per tonne to USD 3,208 per tonne.
The LME Asian reference price stood at USD 3,388.50 per tonne on June 16.
LME aluminium inventories continued to decline. Opening stocks fell by 425 tonnes, or 0.13 per cent to 319,500 tonnes from 319,925 tonnes. Live warrants decreased to 247,600 tonnes from 250,300 tonnes, marking a 1.08 per cent drop.
Meanwhile, cancelled warrants rose to 70,400 tonnes from 69,200 tonnes.
The LME alumina platts remained unchanged at USD 305.57 per tonne, indicating stability in the alumina market despite the softer movement in aluminium prices.