LME aluminium price descends to US$2367.50/t; SHFE price loses US$17/t

On Wednesday, LME aluminium opened at US$2,412.5 per tonne, reached a high of US$2,418.5 per tonne, a low of US$2,370.5 per tonne, and closed at US$2,399.5 per tonne, down US$16 per tonne, a decrease of 0.66 per cent.

On Wednesday, September 4, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$14.5 per tonne or 0.60 per cent to clock at US$2,367 per tonne and US$2,367.50 per tonne.

As per the LME price graph, 3-month bid price and 3-month offer price descended by US$18.5 per tonne or 0.76 per cent and US$17 per tonne or 0.70 per cent to halt at US$2,386 per tonne and US$2,388 per tonne. On the same day, December 25 bid price and December 25 offer price contracted by US$29 per tonne or 1.14 per cent to peg at US$2,498 per tonne and US$2,503 per tonne.

LME aluminium opening stock came in at 840425 tonnes.  Live warrants and Cancelled warrants stood at 345300 tonnes and 495125 tonnes.

LME aluminium 3-month Asian Reference Price moved down by US$2.07 per tonne or 0.08 per cent to settle at US$2,403.14 per tonne.  

SHFE aluminium price

On Thursday, September 5, the SHFE aluminium benchmark price has lost US$17 per tonne or 0.62 per cent to dock at US$2,719 per tonne. Overnight, the most-traded SHFE aluminium 2410 contract opened at RMB 19,345 per tonne, reaching a high of RMB 19,420 per tonne, a low of RMB 19,305 per tonne, and closed at RMB 19,365 per tonne, up RMB 15 per tonne, an increase of 0.08 per cent.