After remaining above USD 3,200 per tonne at the June 23 session, the LME aluminium price dropped below the figure across all the pricing segments, barring the live warrants and alumina price, on the June 24 session.
The LME aluminium cash bid price eased 3.52 per cent day-on-day on June 24, down to USD 3,148 per tonne from USD 3,263 per tonne. Similarly, the offer shifted to USD 3,150 per tonne from USD 3,263.5 per tonne, indicating a 3.48 per cent difference.
In the near-term contracts, both the LME aluminium three-month bid price slipped to USD 3,160 per tonne from USD 3,269 per tonne, reporting a drop of 3.33 per cent. The offer price eased by 3.38 per cent, settling at USD 3,160.5 per tonne from USD 3,271 per tonne.
In terms of the longer-dated contracts, the Dec-27 bid as well as offer prices recorded a 2.47 per cent decline over the previous session. The bid closed at USD 3,038 per tonne, slipping from USD 3,115 per tonne, and the offer slumped to USD 3,043 per tonne to USD 3,120 per tonne.
The LME aluminium three-month Asian Reference Price closed at USD 3,122.5 on June 24, down 3.4 per cent from USD 3,232.5 per tonne on June 23.
LME aluminium stocks recorded a further decline as of June 24. The opening stocks slipped from 313,800 tonnes to 311,725 tonnes, marking a 0.66 per cent decrease.
Live Warrants, mirroring the previous three sessions, remained stable at 247,575 tonnes.
Cancelled warrants, however, amounted to 62,650 tonnes, softening 2.34 per cent from 64,150 tonnes.
LME alumina platts closed at USD 307.33 per tonne on June 24, indicating a 0.07 per cent gain over the USD 307.1 per tonne recorded at the June 23 close.
