LME aluminium price decreases again at US$3346/t, SHFE benchmark price is demoted to US$3434/t

LME aluminium opened at US$3,436 per tonne on Thursday and closed at US$3,400 per tonne, down US$31.5 per tonne or 0.92 per cent.

On 7^th April, LME aluminium cash bid price stood at US$3,344 per tonne and LME aluminium official settlement price halted at US$3,346. The former recorded a fall of 2.87 per cent or US$99 per tonne and the latter decreased by US$97.50 per tonne or 2.83 per cent.

3-month bid price stood at US$3,372 facing a downswing of 2.71 per cent or US$94 and 3-month offer price came in at US$3,374 per tonne falling by US$93 per tonne or 2.68 per cent.  

On the same day, December 23 bid price settled at US$3,265 per tonne and December 23 offer price at US$3,270, both witnessing a decline of 2.68 per cent or US$90 per tonne.

LME aluminium opening stock continued to decrease from 619,875 tonnes to 619,775 tonnes or by 0.01 per cent as of 7^th April. Live warrants totalled 399,000 tonnes recording 10,750 tonnes less but Cancelled warrants read 220,775 tonnes after gaining 10,650 tonnes.

The LME aluminium 3-month Asian Reference Price fell 0.46 per cent or US$16 per tonne to stop at US$3,424.50 per tonne.

SHFE aluminium price 

Today, on 8^th April, the benchmark aluminium price for SHFE has fallen by US$47 per tonne or 1.35 per cent to stand at US$3,434 per tonne if compared with the data collected yesterday.

The most-traded SHFE 2205 aluminium contract opened at RMB 21,450 per tonne overnight and rose to RMB 21,850 per tonne before closing at RMB 21,780 per tonne, down RMB 350 per tonne or 1.58 per cent.

The most-traded SHFE 2205 aluminium closed down 3.47 per cent or RMB 785 per tonne to RMB 21,815 per tonne, with open interest down 1,034 lots to 194,567 lots.