LME aluminium benchmark price dips to US$2510/t; SHFE price remains restrained at US$2837/t

LME aluminium opened at US$2,520.5 per tonne in the previous trading day, with its low and high at US$2,508 per tonne and US$2,556.5 per tonne respectively before closing at US$2,547.5 per tonne, up 1.07 per cent.

On Monday, May 13, both LME aluminium cash bid price and LME aluminium official settlement price went down by US$5 per tonne or 0.19 per cent to clock at US$2,509 per tonne and US$2,510 per tonne. 

3-month bid price and 3-month offer price dipped by US$3 per tonne or 0.11 per cent and US$4 per tonne or 0.15 per cent to settle at US$2,549 per tonne and US$2,550 per tonne. As per the LME price graph, December 25 bid price and December 25 offer price went up by US$5 per tonne or 0.18 per cent to peg at US$2,680 per tonne and US$2,685 per tonne. 

LME aluminium opening stock halted at 902550 tonnes. Live warrants and Cancelled warrants stood at 779375 tonnes and 123175 tonnes. LME aluminium 3-month Asian Reference Price slumped by US$55.71 per tonne or 2.15 per cent to halt at US$2,524.73 per tonne. 

SHFE aluminium price 

The Shanghai Future Exchange (SHFE) aluminium benchmark price remained restrained at US$2.837 per tonne. As per the data, overnight, the most-traded SHFE 2407 aluminium contract opened at RMB 20,680 per tonne, with the highest and lowest prices at RMB 20,745 per tonne and RMB 20,635 per tonne before closing at RMB 20,665 per tonne, up RMB 155 per tonne or 0.76 per cent.