LME aluminium benchmark price sheds off US$26/t; SHFE aluminium price accumulates US$16/t
On Wednesday, June 5, LME aluminium opened at US$2,663 per tonne, with a high of US$2,663 per tonne, a low of US$2,615 per tonne, and closed at US$2,635 per tonne, down US$27 per tonne or 1.01 per cent.
LME aluminium cash bid price and LME aluminium official settlement price continued to fall by US$27.50 per tonne and US$26 per tonne, marking the third consecutive day of decline that brought the prices at US$ 2,575 per tonne and US$2,577 per tonne, respectively.
On the same day, 3-month bid price and 3-month offer price declined by US$19 per tonne or 0.72 per cent to reach US$2,623 per tonne and US$2,624 per tonne. December-25 bid price and December-25 offer price shed off US$10 per tonne to settle at US$2,728 per tonne and US$2,733 per tonne.
On June 5, LME aluminium opening stock stood at 1,111,300 tonnes, up by 1,400 tonnes from 1,109,900 tonnes. Live Warrants edged a fall of 0.95 per cent to 585,375 tonnes, while Cancelled Warrants increased by 1.35 per cent to 525,925 tonnes.
LME aluminium 3-month Asian Reference Price shrank by 1.27 per cent to close at US$2,638.79 per tonne.
SHFE aluminium price
On Thursday, June 6, SHFE aluminium benchmark price rose US$16 per tonne or 0.55 per cent to stand at US$2,931 per tonne, following a decline on the previous day. On a month-on-month basis, the price is up by US$80 per tonne or 2.8 per cent from US$2,851 per tonne.
Overnight, the most-traded SHFE 2407 aluminium contract opened at RMB 21,090 per tonne, with a high of RMB 21,230 per tonne, a low of RMB 21,050 per tonne, and closed at RMB 21,225 per tonne, down RMB 20 per tonne or 0.09 per cent.
LME aluminium benchmark price falls by US$22/t to US$2603/t; SHFE price slumps to US$2915/t
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