LME aluminium opens the week with a fall of US$34.5/t; SHFE price drops to US$2,642/t

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.

On Monday, September 4, the London Metal Exchange (LME) opened the week with a fall of US$34.5 per tonne or 1.58 and 1.57 per cent to peg at US$2,149 per tonne and US$2,149.50 per tonne.

As per the LME graph, both 3-month bid price and 3-month offer price lost US$37.5 per tonne or 1.67 per cent and US$37 per tonne or 1.65 per cent to halt at US$2,196 per tonne and US$2,197 per tonne.

December 24 bid price and December 24 offer price contracted by US$35 per tonne or 1.47 per cent to close at US$2,340 per tonne and US$2,345 per tonne. LME aluminium opening stock closed at 506400 tonnes. Live warrants and Cancelled warrants settled at 225350 tonnes and 281050 tonnes.

LME aluminium 3-month Asian Reference Price slumped by UA$35.15 per tonne or 1.56 per cent to reside at US$2,206.23 per tonne.

SHFE aluminium price

Today, on September 5, the Shanghai Futures Exchange (SHFE) aluminium benchmark price has descended by US$29 per tonne or 1.08 per cent to close at US$2,642 per tonne. 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.