LME aluminium falls by US$84.50/t to US$2,832.50; SHFE falls significantly to US$2957/t

LME aluminium opened at US$2,936 per tonne last Friday and closed at US$2,835 per tonne, down US$101 per tonne or 3.44 per cent.

LME aluminium cash bid price and official settlement price halted at US$2,832 per tonne and US$2,832.50 per tonne, respectively, both experiencing a decrease of 2.9 per cent or US$84.50 per tonne, on 6th May. 

The 3-month bid price shrank by 2.61 per cent or US$77 per tonne to US$2,868 per tonne. The 3-month offer price came in at US$2,870 per tonne after a fall of 2.61 per cent or US$77 per tonne.

December 23 bid price had gone down by US$60 per tonne or 2.09 per cent to close at US$2,813 per tonne. The December 23 offer price stopped at US$2,818 per tonne with a 2.08 per cent or US$60 per tonne cut.

LME aluminium opening stock continued to decrease by 0.31 per cent or 1,800 tonnes from 573,600 tonnes to 571,800 tonnes as of 6th May.

Live warrants totalled 375,075 tonnes witnessing a decline of 3.27 per cent or 12,700 tonnes. Cancelled warrants read 196,725 tonnes after 10,900 tonnes or 5.86 per cent hike.

The LME aluminium 3-month Asian Reference Price dropped by 2.70 per cent or US$80.79 per tonne to stop at US$2907.21 per tonne.

SHFE aluminium price 

Today, on 9th May, the benchmark aluminium price for SHFE fell by US$96 per tonne or 3.14 per cent to stand at US$2,957 per tonne if compared with data collected last week.

The most-traded SHFE 2206 aluminium contract opened at RMB 19,880 per tonne at last Friday’s night session and rose to RMB 19,955 per tonne before closing at RMB 19,905 per tonne, down RMB 360 per tonne or 1.78 per cent.

The most-traded SHFE 2206 aluminium closed down 3.38 per cent or RMB 700 per tonne to RMB 20,010 per tonne, with open interest up 1,704 lots to 205,212 lots.