LME aluminium price continues to grow to settle at US$2582/t; SHFE price shrinks by US$58/t to US$2923/t
Three-month LME aluminium opened at US$2,602.50 per tonne yesterday and closed at US$2,562 per tonne, a decrease of 1.46 per cent.
On Tuesday, November 9, LME aluminium cash (bid) price grew by US$51 per tonne to come in at US$2,581 per tonne, while LME official settlement price increased by US$51.50 per tonne to settle at US$2,582 per tonne. 3-month bid price and 3-month offer price stood at US$2,600 per tonne and US$2,601 per tonne, respectively. December 22 bid price and December 22 offer price totalled US$2,578 per tonne and US$2,583 per tonne.
LME aluminium opening stock on November 9 continued to decline to 991375 tonnes. Live warrants slumped to 599925 tonnes, while cancelled warrants climbed to 391450 tonnes.
LME aluminium 3-month Asian Reference Price stood at US$2,587 per tonne on November 9.
SHFE Aluminium Price Trend
On Wednesday, November 10, the benchmark aluminium price for SHFE shrank by US$58 per tonne to close at US$2,923 per tonne.
The most-traded SHFE 2112 aluminium closed up 0.26 per cent or RMB 50 per tonne to stand at RMB 19005 per tonne, with open interest down 7434 lots to 192395 lots.
Overnight, the most-traded SHFE 2112 aluminium contract opened at RMB 19,030 per tonne, and closed at RMB 18,760 per tonne, down RMB 245 per tonne or 1.29 per cent.
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