LME aluminium price drops US$5/t to stand at US$2740.5/t; SHFE price closes higher at US$3371/t
Three-month LME aluminium rose 0.02 per cent to end at US$2,768 per tonne on last night, with open interest decreasing 49 lots to 651,000 lots.
LME aluminium cash (bid) price and LME official settlement price dropped by US$5 per tonne on Tuesday, September 7, to come in at US$2,740 per tonne and US$2,740.50 per tonne, respectively. But 3-months bid price grew by US$3 per tonne to stand at US$2,759 per tonne, while 3-months offer price edged US$2 per tonne higher to peg at US$2,760 per tonne. Dec 22 bid price stood at US$2,688 per tonne and Dec 22 offer price hovered around US$2,693 per tonne.
LME aluminium opening stock plunged from 1341000 tonnes to 1333625 tonnes. Live Warrants amounted to 866375 tonnes, while Cancelled Warrants totalled 467250 tonnes.
LME aluminium 3-months Asian Reference Price settled at US$ 2765.50 per tonne as of September 7.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE gained US$5 per tonne to close at US$3,371 per tonne on Wednesday, September 8.
The most-traded SHFE 2110 aluminium closed up 0.44 per cent to RMB 21,730 per tonne, with open interest down 12145 lots to 286000 lots.
The most-active SHFE 2110 aluminium contract decreased 0.02 per cent to end at RMB 21,735 per tonne last night, with open interest down 356 lots to 286,000 lots.
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