LME aluminium price dwindles by US$71/t to US$2,226/t; SHFE price plunges to US$2,475/t

LME aluminium opened at US$2,284.5 per tonne last Friday, with its high and low at US$2,285 per tonne and US$2,191 per tonne, respectively, before closing at US$2,234 per tonne, a drop of US$57 per tonne or 2.49 per cent.

On Friday, October 28, both LME aluminium cash bid price and LME aluminium official settlement price dwindled by US$71 per tonne or 3.09 per cent to record US$2,225.50 per tonne and US$2,226 per tonne.

3-month bid price and 3-month offer price plunged by US$64.5 per tonne or 2.80 per cent and US$66 per tonne or 2.86 per cent to halt at US$2,235.50 per tonne and US$2,236 per tonne.

December 23 bid price and December 23 offer price slumped by US$60 per tonne or 2.52 per cent to peg at US$2,315 per tonne and US$2,320 per tonne.

LME aluminium opening stock settled at 587425 tonnes. Live warrants and Cancelled warrants came in at 351150 tonnes and 236275 tonnes.

LME aluminium 3-month Asian Reference Price dropped by US$61.7 per tonne or 2.67 per cent to halt at US$2,248.09 per tonne.

SHFE aluminium price 

On Monday, October 31, the SHFE benchmark aluminium price declined by US$79 per tonne or 3.09 per cent to reside at US$2,475 per tonne.

The most-traded SHFE 2212 aluminium closed down 2.8 per cent or RMB 520 per tonne to RMB 18,075 per tonne, with open interest up 16,337 lots to 164,946 lots.

The most-traded SHFE 2212 aluminium contract opened at RMB 18,040 per tonne at last Friday’s night session, with its high and low at RMB 18,085 per tonne and RMB 17,910 per tonne before closing at RMB 17,970 per tonne, down RMB 105 per tonne, or 0.58 per cent.