LME aluminium price drops by US$31.5/t to US$2,169/t; SHFE price hikes by US$9/t

LME aluminium opened at US$2,186 per tonne on Wednesday, with its high and low at US$2,209.5 per tonne and US$2,162 per tonne, respectively, before closing at US$2,190 per tonne, a drop of US$10 per tonne or 0.46 per cent.

On Wednesday, October 19, both LME aluminium cash bid price and LME aluminium official settlement price slumped by US$32 per tonne or 1.45 per cent and US$31.5 per tonne or 1.43 per cent to halt at US$2,168 per tonne and US$2,169 per tonne.

3-month bid price and 3-month offer price slipped by US$36 per tonne or 1.62 per cent and US$35.5 per tonne or US$1.60 per cent to settle at US$2,180 per tonne and US$2,181 per tonne.

December 23 bid price and December 23 offer price descended by US$32 per tonne to peg at US$2,268 per tonne and US$2,273 per tonne.

LME aluminium opening stock clocked at 562550 tonnes. Live warrants and Cancelled warrants stood at 527675 tonnes and 34875 tonnes.

LME aluminium 3-month Asian Reference Price plunged by US$50.21 per tonne or 2.23 per cent to US$2,191.37 per tonne.

SHFE aluminium price 

On the other hand, the SHFE aluminium benchmark price ascended by US$9 per tonne or 0.35 per cent to halt at US$2,548 per tonne as of Thursday, October 20.

The most-traded SHFE 2211 aluminium closed down 0.11 per cent or RMB 20 per tonne to RMB 18,305 per tonne, with open interest down 3,978 lots to 136,274 lots.

The most-traded SHFE 2211 aluminium contract opened at RMB 18,305 per tonne overnight, with its low and high at RMB 18,285 per tonne and RMB 18,385 per tonne before closing up RMB 70 per tonne or 0.38 per cent.