LME aluminium benchmark price drops by US$7.5/t to US$2,144.5/t; SHFE price sheds US$10/t

LME aluminium opened at US$2181.5 per tonne on Monday, with its low and high at US$2162 per tonne and US$2189 per tonne, respectively, before closing at US$2176 per tonne, down 0.18 per cent.

On Monday, October 23, LME aluminium cash bid price and LME aluminium official settlement price dropped by US$7 per tonne or 0.32 per cent and US$7.5 per tonne or 0.34 per cent to score at US$2,144 per tonne and US$2,144.50 per tonne.

3-month bid price and 3-month offer price went down by US$5 per tonne and US$4 per tonne to clock at US$2,172 per tonne and US$2,174 per tonne. December 24 bid price and December 24 offer price descended by US$10 per tonne or 0.43 per cent to rest at US$2,293 per tonne and US$2,298 per tonne.

LME aluminium opening stock came in at 486450 tonnes. Live warrants and Cancelled warrants closed at 203525 tonnes and 282925 tonnes. LME aluminium 3-month Asian Reference Price decreased by US$4.74 per tonne or 0.21 per cent, stopping at US$2,168.94 per tonne.

SHFE aluminium price

On Monday, October 24, the aluminium benchmark price on the Shanghai Futures Exchange (SHFE) fell by US$10 per tonne or 0.38 per cent, settling at US$2,584 per tonne.

Overnight, the most-traded SHFE 2311 aluminium contract opened at RMB 19000 per tonne, with its low and high at RMB 18870 per tonne and RMB 19000 per tonne before closing at RMB 18905 per tonne, up RMB 55 per tonne or 0.29 per cent.