LME aluminium price grows by US$1.5/t to settle at US$2152/t; SHFE slips marginally to US$2594/t

LME aluminum opened at US$2,188 per tonne last Friday, with its low and high at US$2,169 per tonne and US$2,190.50 per tonne, respectively, before closing at US$2,180 per tonne, a drop of US$10 per tonne or 0.46 per cent.

On Friday, October 22, LME aluminium cash bid price and LME aluminium official settlement price grew slightly by US$1 per tonne and US$1.50 per tonne, respectively, to stand at US$2,151 per tonne and US$2,152 per tonne.

3-month bid price and 3-month offer price inched up by US$0.50 per tonne and US$1 per tonne to peg at US$2,177 per tonne and US$2,178 per tonne. December-24 bid price and December-24 offer price rose by US$3 per tonne to close the week at US$2,303 per tonne and US$2,308 per tonne.

LME aluminium opening stock dropped 2,000 tonnes to settle at 488,450 tonnes. Live Warrant and Cancelled Warrants stood at 203,525 tonnes and 284,925 tonnes.

LME aluminium 3-month Asian Reference Price marked a decline of US$10.34 per tonne to stand at US$2,173.68 per tonne.

SHFE aluminium price:

On Monday, October 23, aluminium benchmark price on the Shanghai Futures Exchange (SHFE) has continued to slip by US$1 per tonne to mark a new week at US$2,594 per tonne.  

At last Friday’s night session, the most-traded SHFE 2311 aluminum contract opened at RMB 18,965 per tonne, with its low and high at RMB 18,900 per tonne and RMB 19,005 per tonne, before closing at RMB18,980 per tonne, up RMB 11 per tonne or 0.06 per cent.