Three-month LME aluminium opened at US$2,227.50 per tonne, with the highest and lowest prices at US$2,234.50 per tonne and US$2,170.50 per tonne before closing at US$2,177 per tonne, down US$41.50 per tonne or 1.87 per cent.

On Monday, October 24, LME aluminium cash bid price and LME aluminium official settlement price inched up by US$3 per tonne and US$4.50 per tonne, respectively, to initiate the week at US$2,158 per tonne and US$2,160 per tonne.

3-month bid price and 3-month offer price settled at US$2,178 per tonne and US$2,179 per tonne, up by US$3.50 per tonne from the previous day. December 23 bid price and December 23 offer price increased by US$7 per tonne to peg at US$2,262 per tonne and US$2,267 per tonne as of October 24.

LME aluminium opening stock slipped 475 tonnes to total 569525 tonnes on Monday. Live warrants and Cancelled warrants stood at 329125 tonnes and 240400 tonnes, respectively.

LME aluminium 3-month Asian Reference Price grew marginally by US$1.95 per tonne to rest at US$2,211.95 per tonne.

SHFE aluminium price

On contrary, the benchmark aluminium price for SHFE shrank by US$36 per tonne to come in at US$2,538 per tonne as of Tuesday, October 25.

Overnight, the most-traded SHFE 2211 aluminium contract opened at RMB 18,465 per tonne, with the highest price at RMB 18,600 per tonne before closing at RMB18,580 per tonne, down RMB 42 per tonne or 0.22 per cent.

The most-traded SHFE 2211 aluminium closed down 0.27 per cent or RMB50 per tonne to RMB 18,575 per tonne, with open interest down 2,808 lots to 125,297 lots.