LME aluminium price grows by US$4.5/t to settle at US$2630.50/t; SHFE price further drops to US$2958/t
LME aluminium opened at US$2,622 per tonne on Thursday, December 9, and closed at US$2,627 per tonne, down US$8 per tonne or 0.3 per cent.
LME aluminium cash (bid) price increased by US$5 per tonne to stand at US$2,630 per tonne, while LME aluminium official settlement price rose by US$4.50 per tonne to close at US$2,630.50 per tonne as of December 9. 3-month bid price climbed by US$8 per tonne to US$2,633 per tonne and 3-month offer price gained US$7 per tonne to come in at US$2,634 per tonne. December 22 bid price and December 22 offer price settled at US$2,620 per tonne and US$2,625 per tonne, respectively.
LME aluminium opening stock further decreased to 890650 tonnes. Live warrants for the same day rose to 712375 tonnes, while cancelled warrants shrank to 178275 tonnes.
LME aluminium 3-month Asian Reference Price registered at US$2,621.92 per tonne.
SHFE Aluminium Price Trend
On Friday, December 10, the benchmark aluminium price for SHFE continued to decline for the second day in a row by US$4 per tonne to stand at US$2,958 per tonne.
The most-traded SHFE 2201 aluminium closed down 0.45 per cent or RMB 85 per tonne to RMB 18,770 per tonne, with open interest up 644 lots to 178689 lots.
Overnight, the most-traded SHFE 2201 aluminium contract opened at RMB 18,800 per tonne, with the highest and lowest prices at RMB 18,805 per tonne and RMB 18,690 per tonne before closing at RMB 18,775 per tonne, down RMB 25 per tonne or 0.13 per cent.
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