LME aluminium price fell to $2022/t after two consecutive hikes; SHFE price settled 1.29% lower at $2526/t
The LME complex declined mostly on last Friday, with aluminium pulled back 0.73 per cent. Benchmark aluminium price on the London Metal Exchange declined 0.44 per cent to US$ 2022 per tonne on Friday, December 11, 2020.
Both LME aluminium cash (bid) price and LME official settlement price decreased by US$ 9 per tonne to US$ 2022 per tonne on Friday, December 11, following two consecutive hikes to US$ 2031 per tonne. 3-months bid price and 3-months offer price stood at US$ 2034.50 per tonne, down by US$ 7.50 per tonne from US$ 2042 per tonne. Dec 21 bid price and Dec 21 offer price hovered at US$ 2062.50 per tonne.
The LME aluminium opening stock decreased from 1333375 tonnes to 1329600 tonnes on December 11. Live Warrants stood at 1150875 tonnes, while Cancelled Warrants at 178725 tonnes.
LME aluminium 3-months Asian Reference Price stood at US$ 2032.23 per tonne, as of Friday, December 11.
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SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE decreased by US$ 1.29 per cent from US$ 2559 per tonne to US$ 2526 per tonne on Friday, December 11, 2020.
The most-liquid SHFE 2101 aluminium contract finished the day 0.65 per cent lower at RMB 16,110 per tonne. Open interest fell 9,200 lots to 124,782 lots.
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