LME aluminium on constant decline at US$2474/t; SHFE begins the week with US$14/t boost

LME aluminium opened at US$2,518 per tonne last Friday and closed at US$2,503 per tonne, down US$18.5 per tonne or 0.73 per cent.

LME aluminium cash bid price stood at US$2473.50 per tonne, with a 1.06 per cent or US$26.50 per tonne slump, according to London Metal Exchange. LME aluminium official settlement price halted at US$2,474 per tonne, experiencing a similar downfall of 1.06 per cent or US$26.50 per tonne on June 17.  

3-month bid price saw a 0.95 per cent or US$24 per tonne plunge, resulting in US$2,500. 3-month offer price was demoted by 0.91 per cent or US$23 per tonne to rest at US$2,502 per tonne. 

December 23 bid price stood at US$2,512 per tonne, dropping 0.24 per cent or US$6 per tonne. December 23 offer price closed at US$2,517 per tonne, moving down by US$6 per tonne or 0.24 per cent.

LME aluminium opening stock continued to decrease by 0.9 per cent or 3,700 tonnes from 411,575 tonnes to 407,875 tonnes as of June 17, Friday.

Live warrants totalled 171,225 tonnes, witnessing a decrease of 0.45 per cent or 775 tonnes. Cancelled warrants read 236,650 tonnes, after 2,925 tonnes or 1.22 per cent drop.

The LME aluminium 3-month Asian Reference Price decreased by 3.25 per cent or US$84.78 per tonne to stop at US$2,524.18 per tonne.

SHFE aluminium price 

Today, on June 20, the SHFE benchmark aluminium price has escalated by US$14 per tonne or 0.47 per cent to stand at US$2,961 per tonne if compared with data collected the previous week.

The most-traded SHFE 2207 aluminium contract opened at RMB 19,760 per tonne at last Friday’s night session, with its low and high at RMB 19,550 per tonne and RMB 19,770 per tonne before closing at RMB 19,600 per tonne, down RMB 205 per tonne or 1.04 per cent.

The most-traded SHFE 2207 aluminium closed down 1.25 per cent or RMB 250 per tonne to RMB 19,805 per tonne, with open interest down 5,072 lots to 150,054 lots.