LME aluminium price falls for the third day in a row to US$2218.5/t; SHFE price dips by US$14/t
Three-month LME aluminium hit a low of US$$2,191 per tonne after opening at US$2,255 per tonne on Tuesday, October 11, but then rallied and closed at US$2,251 per tonne, down 0.16 per cent.
On Tuesday, October 11, LME aluminium cash bid price and LME aluminium official settlement price continued to decline for the third day in a row. Both the prices lost US$ 55.50 per tonne and settled at US$2,218 per tonne and US$2,218.50 per tonne, respectively.
3-month bid price and 3-month offer price plunged by US$62 per tonne and US$62.50 per tonne to rest at US$2,215 per tonne and US$2,215.50 per tonne. December 23 bid price and December 23 offer price further contracted by US$66 per tonne to hover around US$2,297 per tonne and US$2,302 per tonne.
LME aluminium opening stock slipped 1875 tonnes to stand at 325800 tonnes. Live Warrants and Cancelled Warrants were recorded at 271600 tonnes and 54200 tonnes.
LME aluminium 3-month Asian Reference Price dropped US$22.22 per tonne to clock at US$2,238.83 per tonne.
SHFE aluminium price
On Wednesday, October 12, the SHFE aluminium benchmark price dipped by US$14 per tonne mid-week to close at US$2,578 per tonne.
SHFE aluminium fell to RMB 18,355 per tonne after opening at RMB 18,485 per tonne overnight, and closed at RMB 18,475 per tonne.
The most-traded SHFE 2211 aluminium closed down 0.27 per cent or RMB 50 per tonne to RMB 18,465 per tonne, with open interest down 9,030 lots to 147,460 lots.
A00 aluminium ingot price in China drops by RMB180/t; Low-carbon aluminium price descends to RMB 19,047/t
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