LME aluminium price closes the week with a plunge of US$42.5/t; SHFE price nosedives to US$2,582/t

LME aluminium opened at US$2,222 per tonne last Friday and closed at US$2,167 per tonne, down US$56 per tonne or 2.52 per cent.

On Friday, September 23, both LME aluminium cash bid price and LME aluminium official settlement price dwindled by US$43 per tonne or 1.95 per cent and US$42.5 per tonne or 1.93 per cent to settle at US$2,152 per tonne and US$2,153 per tonne.

3-month bid price and 3-month offer price plunged by US$43.5 per tonne or 1.96 per cent to record at US$2,171 per tonne and US$2,172 per tonne.

December 23 bid price and December 23 offer price dropped by US$41 per tonne or 1.77 per cent and 1.76 per cent to close at US$2,272 per tonne and US$2,277 per tonne.

LME aluminium opening stock scored at 340350 tonnes. Live warrants and Cancelled warrants were recorded at 276300 tonnes and 64050 tonnes.

LME aluminium 3-month Asian Reference Price inched down by US$1.29 per tonne or 0.05 per cent to halt at US$2,208.58 per tonne.

SHFE aluminium price 

The benchmark aluminium price for SHFE nosedived by US$61 per tonne or 2.30 per cent to stand at US$2,582 per tonne.

The most-traded SHFE 2210 aluminium closed up 0.11 per cent or RMB 20 per tonne to RMB 18,630 per tonne, with open interest down 7,304 lots to 131,757 lots.

The most-traded SHFE 2210 aluminium contract opened at RMB 18,480 per tonne at last Friday’s night session and rose to RMB 18,540 per tonne before closing at RMB 18,485 per tonne, down RMB 145 per tonne or 0.78 per cent.