LME aluminium benchmark price dips by 0.47% to close at $2752.5/t; SHFE price plummets by US$53/t

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LME aluminium opened at US$2,836 per tonne on Thursday, June 9, and closed at US$2,760 per tonne, down by US$76 per tonne or 2.68 per cent.

LME aluminium benchmark price dips by 0.47% to close at $2752.5/t; SHFE price plummets by US$53/t

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LME aluminium cash bid price and LME aluminium official settlement price decreased on an alternate day, June 9, by US$13 per tonne or 0.47 per cent to stand at US$2,752 per tonne and US$2,752.50 per tonne, following a hike of 1.9 per cent on the previous day.

3-month bid price and 3-month offer price dropped by US$12 per tonne to settle at US$2,785 per tonne and US$2,786 per tonne. December 23 bid price and December 23 offer price halted at US$2,727 per tonne and US$2,732 per tonne, respectively, both down by US$28 per tonne.

LME aluminium opening stock continued to decline by 3,950 tonnes to stop at 430050 tonnes. Live warrants and Cancelled warrants stood at 187925 tonnes and 242125 tonnes as of June 9.

LME aluminium 3-month Asian reference price expanded further by US$52.89 per tonne to close at US$2,826.21 per tonne.

Global Aluminium Industry Outlook 2022

SHFE aluminium price

On Friday, January 10, the benchmark aluminium price for SHFE plunged by US$53 per tonne or 1.70 per cent to settle at US$3,071 per tonne.

The most-traded SHFE 2207 aluminium closed up 0.36 per cent or RMB 75 per tonne to stand at RMB 20,845 per tonne, with open interest down 432 lots to 181,135 lots.

The most-traded SHFE 2207 aluminium contract opened at RMB 20,695 per tonne overnight and fell to RMB 20,500 per tonne before closing at RMB 20,550 per tonne, down RMB 295 per tonne or 1.42 per cent.

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