LME aluminium price drops by US$19/t to US$2826/t; SHFE price grows by US$62/t

LME aluminium opened at US$2,825 per tonne on Thursday and closed at US$2,938 per tonne, an increase of US$113 per tonne or 4 percent.

On Thursday, May 19, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$19 per tonne or 0.66 per cent after experiencing a hike for four consecutive days. The former settled at US$2,825.50 per tonne, and the latter stopped at US$2,826 per tonne.

3-month bid price and 3-month offer price also declined by US$33.5 per tonne or 1.16 per cent and US$35 per tonne or 1.21 per cent to peg at US$2,839.50 per tonne and US$2,840 per tonne.

LME aluminium opening stock halted at 511675 tonnes. Live warrants and Cancelled warrants for the same day stopped at 194175 tonnes and 317500 tonnes.

LME aluminium 3-month Asian Reference Price plunged by US$31.42 per tonne or 1.08 per cent to score at US$2,855.34 per tonne.

SHFE aluminium price

The benchmark aluminium price for SHFE has surged by US$62 per tonne or 2.04 per cent to come in at US$3,090 per tonne as of May 20.

The most-traded SHFE 2206 aluminium closed up 0.76 per cent or RMB 155 per tonne to RMB 20,560 per tonne, with open interest down 10,959 lots to 136,202 lots.

The most-traded SHFE 2206 aluminium contract opened at RMB 20,505 per tonne overnight and rose to RMB 20,930 per tonne before closing at RMB 20,840 per tonne, up RMB 420 per tonne or 2.06 per cent.