LME aluminium official price suffers US$48/t loss closing at US$2452/t; SHFE drops US$10/t to stop at US$2883/t

LME aluminium opened at US$2,491 per tonne on Wednesday and closed at US$2,472.5 per tonne, down US$14.5 per tonne or 0.58 per cent.

LME aluminium cash bid price stood at US$2,451 per tonne, with a 1.92 per cent or US$48 per tonne slump, according to London Metal Exchange. LME aluminium official settlement price halted at US$2,452 per tonne, experiencing a similar downfall of 1.92 per cent or US$48 per tonne on June 29. 

3-month bid price and 3-month offer price demoted by 1.96 per cent or US$49.5 per tonne to rest at US$2,470 per tonne and US$2,470.50 per tonne, respectively. 

December 23 bid price stood at US$2,500 per tonne, dropping by 1.77 per cent or US$45 per tonne. December 23 offer price closed at US$2,505 per tonne, moving down by US$45 per tonne or 1.76 per cent.

LME aluminium opening stock continued to decrease by 0.98 per cent or 3,750 tonnes from 380,675 tonnes to 376,925 tonnes as of June 29.

Live warrants totalled 161,300 tonnes, witnessing no alteration at all. Cancelled warrants read 215,625 tonnes, after 3,750 tonnes or 1.71 per cent cut.

The LME aluminium 3-month Asian Reference Price decreased by 1.01 per cent or US$25.33 per tonne to stop at US$2,477.36 per tonne.

SHFE aluminium price 

Today, on June 30, the SHFE benchmark aluminium price has lost US$10 per tonne or 0.34 per cent to stand at US$2,883 per tonne, if compared with data collected yesterday.

The most-traded SHFE 2208 aluminium contract opened at RMB 19,305 per tonne overnight, with its low and high at RMB 19,200 per tonne and RMB 19,385 per tonne before closing at RMB 19,215 per tonne, down RMB 65 per tonne or 0.34 per cent.

The most-traded SHFE 2208 aluminium closed up 0.1 per cent or RMB 20 per tonne to RMB 19,280 per tonne, with open interest down 5,858 lots to 188,719 lots.