LME aluminium price falls 1.2% to settle at US$2680/t; SHFE benchmark price shrinks by US$38/t
LME aluminium opened at US$2,722 per tonne on Tuesday morning and closed at US$2,680 per tonne, down $39.50 per tonne or 1.45 per cent.
On Monday, November 2, LME aluminium cash (bid) price shrank by US$ 33.50 per tonne or 1.24 per cent to stand at US$ 2,679 per tonne, while LME aluminium official settlement price plunged by US$33 per tonne to come in at US$2,680 per tonne. 3-month bid price and 3-month offer price totalled US$2,697 per tonne and US$2,698 per tonne. December 22 bid price and December 22 offer price closed at US$2,640 per tonne and US$2,645 per tonne, respectively.
LME aluminium opening stock on November 2 declined from 1035525 tonnes to 1028325 tonnes. Live warrants settled at 625350 tonnes and cancelled warrants recorded at 402975 tonnes.
LME aluminium 3-month Asian Reference Price hovered around US$2,709.25 per tonne on November 2.
SHFE Aluminium Price Trend
On Wednesday, November 3, the benchmark aluminium price for SHFE slipped by US$38 per tonne to settle at US$3,118 per tonne.
The most-traded SHFE 2112 aluminium closed up 0.22 per cent or RMB 45 per tonne to stand at 20,095 per tonne, with open interest down 1470 lots to 213170 lots.
Overnight, the most-traded SHFE 2112 aluminium contract opened at RMB 20,045 per tonne, with the highest and lowest prices at RMB 20,185 per tonne and RMB 19,950 per tonne before closing at RMB 19,995 per tonne, down RMB 40 per tonne or 0.2 per cent.
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