Aluminium prices on the London Metal Exchange (LME) continued their improving trend on July 9. Cash and near-term contracts reported gains of almost 1 per cent, while stocks continued to slide, indicating depletion in the inventory amid tight market conditions.
On July 9, the LME aluminium cash bid price edged up from USD 3,140.5 per tonne on July 8 to USD 3,163 per tonne on July 9, representing a 0.72 per cent rise. The offer price climbed from USD 3,141 per tonne to USD 3,164 per tonne, gaining 0.73 per cent day-on-day.
The LME aluminium three-month contract bid price edged up from USD 3,145 per tonne on July 8 to USD 3,168.5 per tonne on July 9, recording a 0.75 per cent increase. The offer price rose from USD 3,147 per tonne to USD 3,169 per tonne, rising 0.7 per cent.
The December 2027 bid, as well as offer prices, increased by 0.42 per cent on July 9. The bid went up from USD 3,072 per tonne to USD 3,085 per tonne, as the offer price improved from USD 3,077 per tonne to USD 3,090 per tonne.