LME aluminium benchmark price halts at US$2368.5/t with 1.58% drip; SHFE shrinks US$5/t

LME aluminium opened at US$2,390 per tonne on Wednesday and closed at US$2,363 per tonne, down US$21 per tonne or 0.88 per cent.

LME aluminium cash bid price stopped at US$2,368 per tonne, with a decline of 1.58 per cent or US$38 per tonne hike on Wednesday, August 31, while LME aluminium official settlement price rested at US$2,368.50 per tonne, experiencing a similar price dip.   

3-month bid price witnessed a 2.02 per cent or US$48.50 per tonne drop to stand at US$2,356 per tonne and the 3-month offer price also had a fall of 2 per cent or US$48 per tonne, arriving at US$2,357 per tonne.

December 23 bid price and December 23 offer price plunged by US$47 per tonne or 1.91 per cent to rest at US$2,405 per tonne and US$2,410 per tonne, respectively.

LME aluminium opening stock continued to decrease by 1.22 per cent or 3,425 tonnes, from 280,475 tonnes to 277,050 tonnes as of August 31.

Live warrants totalled 190,125 tonnes, boosted by 0.46 per cent or 875 tonnes.

Cancelled warrants read 86,925 tonnes, losing 4.17 per cent or 4,300 tonnes from the previous day.

LME aluminium 3-month Asian Reference Price came in at US$2,405.41 per tonne, with a US$32.09 per tonne or 1.32 per cent slump.

SHFE aluminium price 

Today, on September 1, the SHFE benchmark aluminium price experienced a US$5 per tonne or 0.19 per cent decrease to stand at US$2,665 per tonne, if compared with yesterday’s data. 

The most-traded SHFE 2210 aluminium contract opened at RMB 18,235 per tonne overnight, and rose to RMB 18,430 per tonne before closing at RMB 18,380 per tonne, down RMB 30 per tonne or 0.16 per cent.

The most-traded SHFE 2210 aluminium closed down 0.67 per cent or RMB 125 per tonne to RMB 18,410 per tonne, with open interest down 2,640 lots to 165,690 lots.