LME aluminium benchmark price drops by US$37.5/t; SHFE price moves up by US$4/t

LME aluminium opened at US$2,303 per tonne in the previous trading day, with its high and low at US$2,309.5 per tonne and US$2,276 per tonne, respectively, before closing at US$2,303 per tonne, up US$3 per tonne or 0.13 per cent.

On Wednesday, March 27, both LME aluminium cash bid price and LME aluminium official settlement price slumped by US$37.5 per tonne or 1.64 per cent to stand at US$2,237.50 per tonne and US$2,238 per tonne.

3-month bid price and 3-month offer price dropped by US$38 per tonne or 1.63 per cent and US$37.5 per tonne or 1.61 per cent to peg at US$2,286 per tonne and US$2,287 per tonne. December 25 bid price and December 25 offer price declined by US$31 per tonne or 1.22 per cent to reside at US$2,492 per tonne and US$2,497 per tonne.

LME aluminium opening stock came in at 556525 tonnes. Live warrants and Cancelled warrants closed at 342450 tonnes and 214075 tonnes. LME aluminium 3-month Asian Reference Price slipped by US$22.37 per tonne or 0.96 per cent to clock at US$2,293.98 per tonne.

SHFE aluminium price 

Today, on March 28, the SHFE aluminium price has ascended by US$4 per tonne or 0.14 per cent to halt at US$2,687 per tonne. Overnight, the most-traded SHFE 2405 aluminium contract opened at RMB 19,380 per tonne, with its lowest and highest at RMB 19,355 per tonne and RMB 19,450 per tonne before closing at RMB 19,440 per tonne, up RMB 25 per tonne or 0.13 per cent.