LME aluminium price drifts lower by US$127.5/t to US$2911.50 /t; SHFE is closed till Wednesday for May Day

On Tuesday, April 3, LME aluminium cash bid price stood at US$2,911 per tonne, after experiencing a fall of US$127 per tonne or 4.18 percent. For the same day, LME aluminium official settlement price plunged by US$127.5 per tonne or 4.19 percent to peg at US$2911.50 per tonne.

3-month bid price and 3-month offer price had gone down by US$99 per tonne or 3.25 percent to come in at US$2,944 per tonne and US$2,945 per tonne.

December 23 bid price and December 23 offer price had also slumped by US$90 per tonne or 3.06 percent to score at US$2,842 per tonne and US$2,847 per tonne.

LME aluminium Opening stock was recorded at 577650 tonnes. Live warrants and Cancelled warrants settled at 387725 tonnes and 189925 tonnes.

The LME aluminium 3-month Asian Reference Price shrank by 2.41 percent or US$74.09 per tonne to stop at US$2,989.97 per tonne.

SHFE aluminium price 

The Shanghai Futures Market will be closed from the 30th of April to the 4th of May, 2022, in honour of May Day employees. From Thursday of this week, activities will restart, with the market operating as normal.