The London Metal Exchange (LME) aluminium cash price and near-term contracts recorded improvement on the June 11 over the previous trading session of June 10. Longer dated contracts and stocks, however, continued to record further decline.
The LME aluminium cash bid rose 0.29 per cent day-on-day on June 11, up from USD 3,488 per tonne to USD 3,498 per tonne. The offer moved from USD 3,489 per tonne to USD 3,498.5 per tonne, gaining 0.27 per cent.
On June 11, the LME aluminium 3-month bid price climbed from USD 3,480.5 per tonne on June 10 to USD 3,495 per tonne, marking a 0.42 per cent gain. Similarly, the offer price also recorded an improvement of 0.42 per cent, surging from USD 3,481 per tonne to USD 3,495.5 per tonne.
Unlike the upward trend in prices and near-term contracts, on the longer-dated contracts, both the Dec-27 bid and offer prices recorded a 0.44 per cent decline over the previous session. The bid closed at USD 3,193 per tonne, dipping from USD 3,207 per tonne, and the offer slumped to USD 3,198 per tonne from USD 3,212 per tonne.