LME aluminium benchmark price drops to US$2,512/t; SHFE price descends by US$19/t

LME aluminium opened at US$2,555 per tonne in the previous trading day, with its high and low at US$2,569 per tonne and US$2,517 per tonne, respectively, before closing at US$2,559.5 per tonne, up US$11 per tonne or 0.43 per cent.

On Tuesday, April 16, both LME aluminium cash bid price and LME aluminium official settlement price decreased by US$9 per tonne or 0.35 per cent and US$8.5 per tonne or 0.33 per cent to settle at US$2,511 per tonne and US$2,512 per tonne.

As per the LME data, 3-month bid price and 3-month offer price dipped by US$12 per tonne or 0.47 per cent and US$13 per tonne or 0.51 per cent to settle at US$2,534 per tonne and US$2,535 per tonne.

December 25 bid price and December 25 offer price went down by US$3 per tonne or 0.11 per cent to clock at US$2,677 per tonne and US$2,682 per tonne. LME aluminium opening stock halted at 517350 tonnes. Live warrants and Cancelled warrants stood at 244650 tonnes and 272700 tonnes.

LME aluminium 3-month Asian Reference Price dwindled by US$84.02 per tonne or 3.21 per cent to peg at US$2,531.74 per tonne.

SHFE aluminium price

On Wednesday, April 17, the SHFE aluminium benchmark price has dropped by US$19 per tonne or 0.67 per cent to settle at US$2,796 per tonne. Overnight, the most-traded SHFE 2406 aluminium contract opened at RMB 20,185 per tonne, with high and low at RMB 20,390 per tonne and RMB 20,165 per tonne before closing at RMB 20,325 per tonne, down RMB 90 per tonne or 0.44 per cent.