The London Metal Exchange (LME) aluminium price continued to improve on July 14, following the trend of the July 13 trading session. The cash gained nearly 1 per cent as stocks recorded a consistent decline.
The LME aluminium cash bid price gained 0.99 per cent day-on-day, up from USD 3,138 per tonne to USD 3,169 per tonne. The offer price edged up from USD 3,138.5 per tonne to USD 3,171 per tonne, rising by 1.04 per cent.
On July 14, the LME aluminium three-month bid price climbed from USD 3,145 per tonne on July 13 to USD 3,167 per tonne, marking a 0.7 per cent surge. The offer price recorded an improvement of 0.65 per cent, moving from 3,147 per tonne to USD 3,167.5 per tonne.
On the longer-dated contracts, both the Dec-27 bid and offer prices recorded a 0.52 per cent gain over the previous session. The bid closed at USD 3,103 per tonne, climbing from USD 3,087 per tonne, and the offer soared to USD 3,108 per tonne from USD 3,092 per tonne.
The LME aluminium three-month reference price closed at USD 3,177 on July 14, reporting a gain of 0.24 per cent from USD 3,169.5 per tonne on July 13.
LME aluminium stocks recorded a further decline as of July 14. The opening stocks slipped from 287,725 tonnes to 286,225 tonnes, posting a 0.52 per cent difference. Similarly, live warrants slumped from 246,400 tonnes to 246,300 tonnes, indicating a dip of 0.04 per cent.
Cancelled warrants, too, slipped by 3.83 per cent from 39,825 tonnes and closed at 38,300 tonnes.
LME alumina Platts price stood at USD 330.2 per tonne on July 14.