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08 NOVEMBER 2023 AL CIRCLE

LME aluminium benchmark price tumbles US$13/t down to US$2241/t; SHFE aluminium price negates 0.22%

EDITED BY : MAYURAKSHI GANGULY 2MINS READ

LME aluminium opened at US$2286.0 per tonne on Tuesday, with its low and high at US$2253.0 per tonne and US$2286.0 per tonne, respectively, before closing at US$2277.0 per tonne, down US$9 per tonne or 0.39 per cent.

LME aluminium benchmark price tumbles US$13/t down to US$2241/t; SHFE aluminium price negates 0.22%

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On November 7, the LME aluminium live price chart spotted slightly declining aluminium price trends, with the LME aluminium cash bid price and the LME aluminium official price dropping US$13 per tonne or 0.58 per cent to officially close at US$2,240.50 per tonne and US$2,241 per tonne.

London Metal Exchange graph displayed that the 3-month bid price and the 3-month offer price plunged by US$15 per tonne or 0.66 per cent to halt at US$2,263 per tonne and US$2,264 per tonne, respectively.

The December 24 bid price and the December 24 offer price have dwindled by US$9 per tonne or 0.38 per cent, settling at US$2,373 per tonne and US$2,378 per tonne.

LME aluminium opening stock recorded a slant of 2,600 tonnes or 0.56 per cent, arriving at 464,100 tonnes. Live warrants stood at 203,800 tonnes, with no measurable change at all. Cancelled warrants halted at 260,300 tonnes, shedding 2,600 tonnes or 0.99 per cent.

LME aluminium 3-month Asian Reference Price stopped at US$2,269.52 per tonne, up US$10.52 per tonne or 0.46 per cent.

Global Aluminium Industry Key Trends 2030

SHFE aluminium price

On November 8, today, the Shanghai Futures Exchange (SHFE) aluminium price chart displayed a slump in aluminium prices, with the official SHFE price halting at US$2,649 per tonne, following a decrease of US$6 per tonne or 0.22 per cent.

The most-traded SHFE 2312 aluminium contract opened at RMB 19170 per tonne overnight, with the highest and lowest prices at RMB 19210 per tonne and RMB 19125 per tonne before closing at RMB 19200 per tonne, up RMB 21 per tonne. 

SHFE 2307 aluminium added RMB 595 per tonne or 3.38 per cent to RMB 18,185 per tonne. The open interest fell 11,785 lots to 256,640 lots.

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Price LME

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EDITED BY : MAYURAKSHI GANGULY 2MINS READ

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