LME aluminium falls for six days straight halting at US$3,418/t, SHFE descends after Qingming Festival
LME aluminium opened at US$3,450 per tonne yesterday and closed at US$3,455 per tonne, an increase of US$40 per tonne or 1.17 per cent.
On 5th April, LME aluminium cash bid price stood at US$3,414 per tonne and LME aluminium official settlement price halted at US$3,415. The former recorded a fall of 0.86 per cent or US$29.50 per tonne and the latter decreased by US$29 per tonne or 0.84 per cent.
3-month bid price stood at US$3,440 facing a downswing of 0.55 per cent or US$19 and 3-month offer price came in at US$3,441 per tonne falling by US$20 per tonne or 0.58 per cent.
On the same day, December 23 bid price settled at US$3,340 per tonne and December 23 offer price at US$3,345, both witnessing a rise of 0.45 per cent or US$15 per tonne.
LME aluminium opening stock continued to decrease from 629,775 tonnes to 623,325 tonnes or by 1.02 per cent as of 5th April. Live warrants totalled 414,725 tonnes recording no change and Cancelled warrants read 208,600 tonnes loosing 6,450 tonnes.
The LME aluminium 3-month Asian Reference Price rose 0.42 per cent or US$14.69 per tonne to stop at US$3,451.94 per tonne.
SHFE aluminium price
Today, on 6th April, the benchmark aluminium price for SHFE fell by US$38 per tonne or 1.06 per cent to stand at US$3,552 per tonne if compared with the data of last week.
The most-traded SHFE 2205 aluminium contract opened at RMB 22,655 per tonne during last Friday’s night session and fell to RMB 22,620 per tonne before closing at RMB 22,660 per tonne, down RMB 90 per tonne or 0.4 per cent.
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