LME aluminium benchmark price edges a fall of US$8/t to US$2580/t; SHFE price rebounds above US$3000/t

LME aluminium opened at US$2,567 per tonne on Wednesday and closed at US$2,615 per tonne, up US$57 per tonne or 2.23 per cent.

But LME aluminium cash bid price and LME aluminium official settlement price continued to drop on June 15, marking the fifth consecutive day of downfall. Both the prices experienced a fall of US$8 per tonne to come in at US$2,579 per tonne and US$2,580 per tonne, respectively.

3-month bid price and 3-month offer price stood at US$2,594 per tonne and US$2,594.50 per tonne, down by US$16 per tonne and US$16.50 per tonne, respectively. December 23 bid price and December 23 offer price closed at US$2,580 per tonne and US$2,585 per tonne, seeing a fall of 0.31 per cent from the previous day.

LME aluminium opening stock further decreased to 416125 tonnes as of June 15. Live Warrants stood at 172,000 tonnes, while Cancelled Warrants halted at 244,125 tonnes.

LME aluminium 3-month Asian Reference Price closed at US$2,579.64 per tonne.

SHFE aluminium price 

On Thursday, June 16, the benchmark aluminium price for SHFE has rebounded by US$58 per tonne to record at US$3,009 per tonne.

The most-traded SHFE 2207 aluminium closed down 0.75 per cent or RMB 150 per tonne to RMB 19,805 per tonne, with open interest down 1,256 lots to 165,645 lots.

The most-traded SHFE 2207 aluminium contract opened at RMB 19,915 per tonne overnight and rose to RMB 20,040 per tonne before closing at RMB 20,025 per tonne, up RMB 110 per tonne or 0.55 per cent.