LME aluminium price closes mid-week at US$2588/t with US$1.50/t cut; SHFE price declines to US$2951/t

LME aluminium opened at US$2,637 per tonne on Tuesday and closed at US$2,558 per tonne, down US$79 per tonne or 3 per cent.

LME aluminium cash bid price collapsed to US$2,587 per tonne with a 0.08 per cent or US$2 per tonne decline, according to London Metal Exchange. The LME aluminium official settlement price halted at US$2,588 per tonne, experiencing a downfall of 0.06 per cent or US$1.50 per tonne, on June 14. 

The 3-month bid price and the 3-month offer price escalated by 0.19 per cent or US$5 per tonne to US$2,610 per tonne and US$2,611 per tonne, respectively. 

December 23 bid price stood at US$2,588 per tonne, rising 0.5 per cent or US$13 per tonne. The December 23 offer price closed at US$2,593 per tonne, going up by US$13 per tonne or 0.5 per cent.

LME aluminium opening stock continued to decrease by 0.78 per cent or 3,300 tonnes from 423,975 tonnes to 420,675 tonnes as of June 14, Tuesday.

Live warrants totalled 181,225 tonnes, witnessing a plunge of 2.81 per cent or 5,250 tonnes. Cancelled warrants read 239,450 tonnes, after 1,950 tonnes or 0.82 per cent was added to it. 

The LME aluminium 3-month Asian Reference Price dropped by 0.11 per cent or US$2.97 per tonne to stop at US$2,641.25 per tonne.

SHFE aluminium price 

Today, on June 15, the SHFE benchmark aluminium price dropped by US$3 per tonne or 0.1 per cent to stand at US$2,951 per tonne if compared with data collected yesterday.

The most-traded SHFE 2207 aluminium contract opened at RMB 19,890 per tonne overnight and rose to RMB 19,950 per tonne before closing at RMB 19,740 per tonne, down RMB 215 per tonne or 1.08 per cent.

The most-traded SHFE 2207 aluminium closed down 1.04 per cent or RMB 210 per tonne to RMB 20,005 per tonne, with open interest down 1,860 lots to 166,901 lots.