LME aluminium price grows US$2/t to stand at US$2381/t; SHFE price glides down by US$40/t

LME aluminium opened at US$2,380 per tonne last Friday and closed at US$2,365 per tonne, down US$3 per tonne or 0.13 per cent.

On Friday, November 25, both LME aluminium cash bid price and LME aluminium official settlement price inched up by US$2 per tonne to stand at US$2,345.50 per tonne and US$2,346 per tonne. 3-month bid price and 3-month offer price grew by US$7 per tonne and US$6 per tonne to rest at US$2,380 per tonne and US$2,381 per tonne, respectively.

December 23 bid price and December 23 offer price gained US$7 per tonne, amounting to US$2,450 per tonne and US$2,455 per tonne, as of November 25.

LME aluminium opening stock further slumped by 3,175 tonnes to total 506,275 tonnes. Live Warrants recorded restraint at 282,400 tonnes, while Cancelled Warrants shrank by 3,175 tonnes to close at 223,875 tonnes.

LME aluminium 3-month Asian Reference Price shed US$30.8 per tonne to rest at US$2,381.20 per tonne.

SHFE aluminium price 

On Monday, November 28, the SHFE aluminium benchmark price has continued to glide down by US$40 per tonne or 1.51 per cent to come in at US$2,601 per tonne.

The most-traded SHFE 2301 aluminium contract opened at RMB 18,915 per tonne at last Friday’s night session and rose to RMB 18,960 per tonne before closing at RMB 18,780 per tonne, down RMB 115 per tonne or 0.61 per cent.

The most-traded SHFE 2301 aluminium closed down 0.37 per cent or RMB 70 per tonne at RMB 18,895 per tonne, with open interest up 5,536 lots to 208,310 lots.