LME aluminium price loses US$23/t to US$2,536.5/t; SHFE price drops by US$3/t

LME aluminium opened at US$2,567 per tonne in the previous trading day, with its high and low at US$2,595.5 per tonne and US$2,542.5 per tonne, respectively, before closing at US$2,588 per tonne, up US$27.5 per tonne or 1.07 per cent.

On Monday, April 29, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$23 per tonne or 0.89 per cent to settle at US$2,536 per tonne and US$2,536.50 per tonne.

As per the LME data, both 3-month bid price and 3-month offer price dipped by US$19.5 per tonne or 0.75 per cent and US$19 per tonne or 0.73 per cent to clock at US$2,567 per tonne and US$2,568 per tonne. 

On the same day, December 25 bid price and December 25 offer price moved down by US$8 per tonne or 0.29 per cent to halt at US$2,680 per tonne and US$2,685 per tonne. LME aluminium opening stock came in at 492750 tonnes. Live warrants and Cancelled warrants settled at 153375 tonnes and 339375 tonnes. 

LME aluminium 3-month Asian Reference Price contracted by US$28.3 per tonne or 1.09 per cent to dock at US$2,556.46 per tonne. 

SHFE aluminium price

The Shanghai Futures Exchange (SHFE) aluminium benchmark price has moved down by US$3 per tonne or 0.10 per cent to reach US$2,843 per tonne. Overnight, the most-traded SHFE 2406 aluminium contract opened at RMB 20,560 per tonne, with its lowest and highest at RMB 20,545 per tonne and RMB 20,690 per tonne before closing at RMB 20,615 per tonne, up RMB 100 per tonne or 0.49 per cent.