London Metal Exchange aluminium prices continued strength into early January, with the LME cash bid recently rising to around USD 3,022.5/t. Supply tightness concerns, inventory drawdowns and strong demand signals have supported the rally.
👉 Source: AlCircle News — https://www.alcircle.com/news/lme-aluminium-surges-as-cash-offer-hits-usd-3-022-5-per-tonne-116808alcircle

Summary :

The rising trend followed at the forwards contract where the LME 3-month bid rose by USD 40 per tonne or 1.33 per cent, reaching USD 3,050 per tonne from USD 3,010 per tonne. The 3-month offer expanded by USD 40.5 per tonne or 1.35 per cent to settle at USD 3,051 per tonne from USD 3,010.5 per tonne.

At the forward contract, the December 27 bid and offer inched up by USD 30 per tonne or 1 per cent from the previous day’s close, where the bid moved from USD 3,043 per tonne to USD 3,073 per tonne and the offer from USD 3,048 per tonne to USD 3,078 per tonne.

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