LME aluminium benchmark price shrinks to US$2000.50/t this week; SHFE price declines 3% to US$2297/t

Benchmark aluminium price on the London Metal Exchange decreased this week by 0.37 per cent to settle at US$ 2000.50 per tonne amid the incessant decline in LME aluminium opening stock from 1305825 tonnes to 1288675 tonnes.

LME aluminium cash (bid) price and LME official settlement price closed lower this week at US$ 2000.50 per tonne on Friday, January 15. The prices started at US$ 2008 per tonne on Monday, January 11, and gained US$ 2025.50 per tonne on Tuesday, January 12. On Wednesday, the price declined again to US$ 2009.50 per tonne, followed after a marginal growth of US$ 1 per tonne to US$ 2010.50 per tonne on Thursday, January 14. They shrunk further on the next day by US$ 10 per tonne.

3-months bid price and 3-months offer price also started the week on January 11 at US$ 2008 per tonne and closed the week, on January 15, lower at US$ 1998.50 per tonne. In the meantime, the prices hovered around US$ 2025 per tonne on Tuesday, recording a hike of US$ 15 per tonne from the price in Monday. On Wednesday, they declined to US$ 2008.50 per tonne and stood at US$ 2009 per tonne on Thursday, January 14.

Dec 21 bid price and Dec 21 offer price ranged between US$ 2079.50 per tonne and US$ 2070 per tonne, a decrease of US$ 9.50 per tonne over the week.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE fell this week from US$ 2372 per tonne on Monday, January 11, to US$ 2,297 per tonne on Friday, January 15. On Tuesday, the price stood at US$ 2337 per tonne, down by US$ 35 per tonne from Monday. On Wednesday, January 13, the price plunged further to US$ 2316 per tonne and to US$ 2274 per tonne on Thursday, January 14. So, over the week, SHFE aluminium price recorded a plunge of 3.16 per cent.