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06 SEPTEMBER 2023 AL CIRCLE

LME aluminium official price stands 6.72% Y-o-Y lower at US$2136.5/t; SHFE aluminium price descends by US$2/t

EDITED BY : MAYURAKSHI GANGULY 2MINS READ

LME aluminium opened at US$2,238 per tonne on Monday, with its high and low at US$2,242 per tonne and US$2,195 per tonne, respectively, before closing at US$2,200.5 per tonne.

LME aluminium official price stands 6.72% Y-o-Y lower at US$2136.5/t; SHFE aluminium price descends by US$2/t

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On September 5, the LME aluminium live price chart experienced declining aluminium price trends, with the LME aluminium cash bid price and the LME aluminium official price dropping US$13 per tonne or 0.6 per cent to officially close at US$2,136 per tonne and US$2,136.50 per tonne, respectively.

On September 5 last year, the aluminium price was US$2,290.50 per tonne, which plunged by US$154 per tonne or 6.72 per cent Year-on-Year to halt at the present rate.

London Metal Exchange graph displayed that the 3-month bid price has shed US$8 per tonne or 0.36 per cent, and the 3-month official price has released US$8.50 per tonne or 0.39 per cent to close at US$2,188 per tonne and US$2,188.50 per tonne, respectively.

The December 24 bid price and the December 24 official price have both slumped by US$7 per tonne or 0.3 per cent to settle at US$2,333 per tonne and US$2,338 per tonne.

LME aluminium opening stock recorded a petty spike of 475 tonnes or 0.09 per cent to arrive at 506,875 tonnes. Live warrants stood at 230,325 tonnes, and cancelled warrants were localised at 276,550 tonnes.

LME aluminium 3-month Asian Reference Price halted at US$2,197.04 per tonne, down US$9.19 per tonne or 0.42 per cent.

Heat Treatment

SHFE aluminium price

Today, on September 6, the Shanghai Futures Exchange (SHFE) aluminium benchmark price has shrunk by US$2 per tonne or 0.07 per cent to settle at US$2,640 per tonne. When we look at the aluminium price on September 6 last year, which was US$2,661 per tonne, it can be understood that there has been a Year-on-Year downfall of US$21 per tonne or 0.79 per cent. 

Overnight, the most-traded SHFE 2310 aluminium contract opened at RMB 18,950 per tonne, with the lowest and highest prices at RMB 18,890 per tonne and RMB 19,040 per tonne before closing at RMB 19,025 per tonne, up RMB 60 per tonne or 0.32 per cent from the previous trading day. 

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. 

Tagged with:

Price LME China

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EDITED BY : MAYURAKSHI GANGULY 2MINS READ

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