27 NOVEMBER 2023 AL CIRCLE

LME aluminium benchmark price drops US$4/t; up 1.51% M-o-M; SHFE aluminium price earns US$6/t

EDITED BY : MAYURAKSHI GANGULY 2MINS READ

LME aluminium opened at US$2228 per tonne last Friday, with its low and high at US$2213.5 per tonne and US$2228 per tonne respectively before closing at US$2225 per tonne, up US$3 per tonne or 0.14 per cent.

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The LME aluminium live price chart, on November 24, witnessed an overall slump in aluminium prices, with the LME aluminium cash bid price and the LME aluminium official price de-escalating by US$3.50 per tonne or 0.16 per cent and US$4 per tonne or 0.18 per cent to officially close at US$2,178.50 per tonne and US$2,179 per tonne.

If the aluminium price on October 24, this year, is taken into account, we can find a Month-on-Month increase of US$32.50 per tonne or 1.51 per cent from US$2,146.50 per tonne.

London Metal Exchange graph displayed that the 3-month bid price and the 3-month offer price negated US$4 per tonne or 0.18 per cent to park at US$2,216 per tonne and US$2,217 per tonne, respectively.

The December 24 bid price and the December 24 offer price shed US$5 per tonne or 0.21 per cent, reaching the mark of US$2,337 per tonne and US$2,342 per tonne.

LME aluminium opening stock witnessed a plunge of 2,425 tonnes or 0.51 per cent, arriving at 473,875 tonnes. Live warrants stood at 201,525 tonnes with no measurable changes at all. Cancelled warrants halted at 272,350 tonnes, losing 2,425 tonnes or 0.88 per cent.

LME aluminium 3-month Asian Reference Price stopped at US$2,223.95 per tonne, down US$2.05 per tonne or 0.09 per cent.

SHFE aluminium price

On November 27, today, the Shanghai Futures Exchange (SHFE) aluminium price chart displayed a spike of US$6 per tonne or 0.23 per cent, with the official SHFE price halting at US$2,645 per tonne.

When the SHFE aluminium price on October 27 is considered, a month-on-month influx of US$56 per tonne or 2.16 per cent from US$2,589 per tonne can be found.

The most-traded SHFE 2401 aluminium contract opened at RMB 18750 per tonne last Friday’s night session, with its low and high at RMB 18680 per tonne and RMB 18785 per tonne before closing at RMB 18745 per tonne, down RMB 15 per tonne or 0.08 per cent.

SHFE 2307 aluminium added RMB 595 per tonne or 3.38 per cent to RMB 18,185 per tonne. The open interest fell 11,785 lots to 256,640 lots.