LME aluminium price drops by US$23/t to US$2,337.5/t; SHFE price plunges to US$2,622/t

LME aluminium opened at US$2,318 per tonne on Tuesday, with its high and low at US$2,318.5 per tonne and US$2,309 per tonne, respectively, before closing at US$2,311 per tonne, a drop of US$7 per tonne or 0.3 per cent.

On Tuesday, December 3, both LME aluminium cash bid price and LME aluminium official settlement price dipped by US$23 per tonne or 0.97 per cent to close at US$2,337 per tonne and US$2,337.50 per tonne.

3-month bid price and 3-month offer price dropped by US$23 per tonne or 0.96 per cent to score at US$2,368 per tonne and US$2,369 per tonne.

LME aluminium opening stock came in at 447250 tonnes. Live warrants and Cancelled warrants scored at 201350 tonnes and 245900 tonnes.

LME aluminium 3-month Asian Reference Price climbed down by US$24.75 per tonne to reside at US$2,385.14 per tonne.

SHFE aluminium price 

On Wednesday, January 4, the benchmark aluminium price for SHFE also plunged by US$56 per tonne or 2.09 per cent to halt at US$2,622 per tonne.

The most-traded SHFE 2302 aluminium closed down 2.22 per cent or RMB 415 per tonne at RMB 18,270 per tonne, with open interest up 16,653 lots to 153,402 lots.

The most-traded SHFE 2302 aluminium contract opened at RMB 18,170 per tonne overnight, with its high and low at RMB 18,175 per tonne and RMB 18,040 per tonne before closing at RMB 18,060 per tonne, down RMB 210 per tonne or 1.15 per cent.