LME aluminium benchmark price loses 1.2% W-o-W, up US$9.5/t on May 1; SHFE aluminium market remains closed

The London Metal Exchange graph recorded fluctuating prices on May 1 with the LME aluminium cash bid price and the LME aluminium official price settling down at US$2,554 per tonne and US$2,554.50 per tonne having gathered US$9.50 per tonne or 0.37 per cent. The LME aluminium price has seen a Week-on-Week slump of US$31 per tonne or 1.2 per cent from US$2,585.50 per tonne recorded on April 24. 

The 3-month Bid price and the 3-month offer price have rested at US$2,568 per tonne and US$2,570 per tonne, respectively, after incurring loses of US$7.50 per tonne or 0.29 per cent and US$6.50 per tonne or 0.25 per cent. 

The 25 December bid price has halted at US$2,673 per tonne and the 25-December offer price has parked at US$2,570 per tonne, with a uniform decline of US$9 per tonne or 0.33 per cent each. 

The opening stock officially closed at 489,250 tonnes, negating 1,500 tonnes or 0.3 per cent. The Live warrants and the cancelled warrants stopped at 131,375 tonnes and 357,875 tonnes, respectively. 

The LME aluminium Asian Reference price settled at US$2,582.59 per tonne, increasing by US$1.65 per tonne or 0.06 per cent. 

SHFE aluminium price 

The SHFE aluminium price on May 1 stood at US$2,842 per tonne, as per the last recorded data. The market is closed till May 5.