LME aluminium benchmark price slumps by US$64/t; SHFE price drops by 1.79%

LME aluminium opened at US$2,524.5 per tonne on Wednesday and closed at US$2,539 per tonne, an increase of US$9 per tonne or 0.36 per cent.

On June 22, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$63.5 per tonne or 2.52 per cent and US$64 per tonne or 2.54 per cent, after witnessing a hike the previous day. As per the data, on June 22, LME aluminium cash bid price closed at US$2,455 per tonne and LME aluminium official settlement price settled at US$2,455.50 per tonne.

3-month bid price and 3-month offer price halted at US$2,469.50 per tonne and US$2,470 per tonne, after witnessing a drop of US$60.5 per tonne or 2.39 percent and US$62 per tonne or 2.44 per cent.

December 23 bid price and December 23 offer price plunged by US$62 per tonne to record at US$2,485 per tonne and US$2,490 per tonne.

LME aluminium opening stock closed at 395575 tonnes. Live warrants and Cancelled warrants stopped at 166575 tonnes and 229000 tonnes.

LME aluminium 3-month Asian reference price also drifted lower by US$25.17 per tonne or 0.99 per cent to settle at US$2,496.17 per tonne.

SHFE aluminium price 

As of Thursday, June 23, the SHFE benchmark aluminium price has inclined downwards by US$52.83 per tonne or 1.79 per cent to settle at US$2,892 per tonne.

The most-traded SHFE 2207 aluminium closed down 1.45 per cent or RMB 285 per tonne to RMB 19,430 per tonne, with open interest down 11,444 lots to 106,738 lots.

Overnight, the most-traded SHFE 2207 aluminium contract opened at RMB 19,300 per tonne, with its low and high at RMB 19,260 per tonne and RMB 19,575 per tonne before closing at RMB 19,550 per tonne, down RMB 175 per tonne or 0.89 per cent.