LME aluminium further nosedives to US$3207/t; SHFE on rise stopping at US$3,354/t

LME aluminium opened at US$3,280 per tonne on Wednesday and closed at US$3,257 per tonne, down US$17 per tonne or 0.52 per cent.

LME aluminium cash bid price stood at US$3,205 per tonne and LME aluminium official settlement price halted at US$3,207 loosing 0.28 per cent and 0.23 per cent respectively, if compared with the records of Tuesday.

The 3-month bid price of aluminium also fell by US$6.50 per tonne or 0.20 per cent to rest at US$3,237.50 per tonne. 3-month offer price also faced the same percentage cut resting at US$3,238.50 per tonne.

According to Wednesday’s LME official price chart, December 23 bid price stood at US$3,120 per tonne and December23 offer price at US$3,125, both witnessing a downward swing of 0.16 per cent or US$5.

LME aluminium opening stock went high at the stock market from 610,775 tonnes to 612,275 tonnes or 0.24 per cent as recorded on 13^th April. Live warrants totalled 396,675 tonnes recording a fall of 3,775 tonnes while Cancelled warrants rose by 5,275 tonnes or 2.51 per cent resting at 215,600 tonnes.

The LME aluminium 3-month Asian Reference Price dropped by 0.09 per cent or US$3.12 to stop at US$3280.50 per tonne.

SHFE aluminium price 

On Thursday, 14^th April, the benchmark aluminium price for SHFE has risen by US$52 per tonne or 1.57 per cent to stand at US$3,354 per tonne.

The most-traded SHFE 2205 aluminium contract opened at RMB 21,215 per tonne overnight and rose to RMB 21,365 per tonne before closing at RMB 21,285 per tonne, up RMB 145 per tonne or 0.69 per cent.

The most-traded SHFE 2205 aluminium closed up 1.92 per cent or RMB 400 per tonne to RMB 21,270 per tonne, with open interest down 6,628 lots to 17,768 lots.