LME aluminium price closes the week with a fall of US$21.5/t; SHFE price slips to US$2,605/t

LME aluminium opened at US$2,202 per tonne last Friday, with its high and low at US$2,213 per tonne and US$2,175 per tonne, respectively, before closing at US$2,184 per tonne, down US$17 per tonne or 0.77 per cent.

On Friday, February 23, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$21.5 per tonne or 0.98 per cent to settle at US$2,156.50 per tonne and US$2,157 per tonne.

As per the LME data, both the 3-month bid price and the 3-month offer price contracted by US$26.5 per tonne or 1.19 per cent to peg at US$2,196.50 per tonne and US$2,197 per tonne. 

The LME aluminium price graph revealed that December 25 bid price and December 25 offer price both dipped by US$25 per tonne or 1.02 per cent to stop at US$2,415 per tonne and US$2,420 per tonne.

LME aluminium opening stock came in at 580275 tonnes. Live warrants and Cancelled warrants closed at 379900 tonnes and 200375 tonnes. LME aluminium 3-month Asian Reference Price descended by US$20.56 per tonne or 0.92 per cent to clock at US$2,207.30 per tonne.

SHFE aluminium price

On February 26, the SHFE aluminium price slumped by US$12 per tonne or 0.45 per cent to US$2,605 per tonne. At last Friday’s night session, the most-traded SHFE 2404 aluminium contract opened at RMB 18,785 per tonne, with its lowest and highest at RMB 18,700 per tonne and RMB 18,840 per tonne before closing at RMB 18,730 per tonne, down RMB 120 per tonne or 0.64 per cent.