LME aluminium benchmark price slumps by USS$19/t but still stands M-o-M higher

LME aluminum opened at US$2,261 per tonne on Thursday, March 14, with high and low at US$2272.50 per tonne and US$2244.50 per tonne, respectively, before closing at US$2,256 per tonne, down US$6.50 per tonne or 0.29 per cent.

LME aluminium cash bid price and LME aluminium official settlement price plunged by US$19 per tonne overnight to stand at US$2,204 per tonne and US$2,205 per tonne, respectively, as of March 14. However, despite the latest downfall, the LME aluminium benchmark price stood 0.50 per cent higher M-o-M than US$2,194 per tonne but down W-o-W by 0.23 per cent from US$2,210 per tonne.

On the same day, 3-month bid price and 3-month offer price declined by US$14.50 per tonne and US$15 per tonne, respectively, amounting to US$2,254.50 per tonne and US$2,255 per tonne. December 25 bid price and December 25 offer price settled at US$2,463 per tonne and US$2,468 per tonne on March 14, down by 0.68 per cent.

LME aluminium opening stock slightly increased rose350 tonnes to 573,275 tonnes. Live warrants and Cancelled warrants came in at 355,350 tonnes and 217,925 tonnes, as of March 14.

LME aluminium 3-month Asian Reference Price dipped US$2.79 per tonne to clock at US$2,255.21 per tonne.

SHFE aluminium price

On Friday, March 15, the SHFE aluminium benchmark price has also decreased by US$19 per tonne to stand at US$2,660 per tonne.

Overnight, the most-traded SHFE 2404 aluminum contract opened at RMB 19,150 per tonne, with its lowest and highest at RMB 19,135 per tonne and RMB 19,205 per tonne before closing at RMB 19,195 per tonne, up RMB 45 per tonne or 0.23 per cent.