LME aluminium price decreased to US$2308.5/t after four consecutive days of hike; SHFE price edged lower at US$2768/t

Three-month LME aluminium slid 0.11 per cent to settle at US$ 2,318.50 per tonne last Friday. LME aluminium is likely to move between US$ 2,300-2,350 per tonne today.

On Friday, April 16, LME aluminium cash (bid) price and LME official settlement price decreased to US$ 2,308.50 per tonne after the last four days of consecutive hikes from US$ 2,254 per tonne to US$ 2,328 per tonne. 3-months bid price and 3-months offer price declined from US$ 2,344 per tonne on April 15 to US$ 2,325.50 per tonne on April 16. Dec 22 bid price and Dec 22 offer price came in at US$ 2,337.50 per tonne, climbing down by US$ 18.50 per tonne from the previous day.

The LME aluminium opening stock extended decline from 1829325 tonnes to 1824250 tonnes. Live Warrants totalled 1300675 tonnes, while Cancelled Warrants stood at 523575 tonnes.

LME aluminium 3-months Asian Reference Price decreased from US$ 2,354.31 per tonne on April 15 to US$ 2,324.79 per tonne on April 16, 2021.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE opened the week on Monday, April 19, with a decline of US$ 21 per tonne to US$ 2,768 per tonne, following a week-long hike during April 12-16.

The most-active SHFE 2106 aluminium contract shed 0.19 per cent to close at RMB 17,960 per tonne last Friday night, and is expected to fluctuate between RMB 17,800-18,100 per tonne today.