LME aluminium price falls sharply by US$122/t to close at US$2618.50/t; SHFE price declines by US$71/t

During last Friday’s night session, LME aluminium opened at US$2,717.50 per tonne and closed at US$2,592 per tonne, a decrease of US$123 per tonne or 4.53 per cent.

After three consecutive days of hike, LME aluminium cash (bid) price and LME official settlement price plummeted by US$122 per tonne or 4.45 per cent on Friday, November 26, to stand at US$2,617.50 and US$2,618.50 per tonne, respectively. 3-month bid price sharply fell by US$117 per tonne to US$2,617 per tonne, while 3-month offer price plunged by US$116 per tonne to settle at US$2,619 per tonne. December 22 bid price and December 22 offer price totalled at US$2,592 per tonne and US$2,597 per tonne, respectively.

LME aluminium opening stock on November 26 decreased from 919225 tonnes to 915850 tonnes. Live Warrants stood at 576325 tonnes, while Cancelled Warrants closed at 339525 tonnes.

LME aluminium 3-month Asian Reference Price declined by US$ 62.62 per tonne to settle at US$2,662.38 per tonne.

SHFE Aluminium Price Trend

The benchmark aluminium price for SHFE decreased for the second day in a row by US$71 per tonne to stand at US$2,956 per tonne on Monday, November 29.

The most-traded SHFE 2201 aluminium closed down 2.42 per cent or RMB 470 per tonne to RMB 18960 per tonne, with open interest down 3112 lots to 213433 lots.

The most-traded SHFE 2201 aluminium contract opened at RMB 18,800 per tonne, with the highest and lowest prices at RMB 18,865 per tonne and RMB 18,625 per tonne before closing at RMB 18,650 tonne, down RMB 630 per tonne or 3.27 per cent.