LME aluminium opened at US$2,250.5 per tonne on Wednesday and closed at US$2,203 per tonne, down US$52 per tonne or 2.31 per cent.
On Wednesday, September 21, aluminium prices dropped to their lowest in 18 months since March 2021 as markets prepared for another significant increase in US interest rates that may stifle economic development.
Both LME aluminium cash bid price and LME aluminium official settlement price nosedived by US$56 per tonne or 2.49 per cent and US$54.5 per tonne or 2.42 per cent to halt at US$2,189 per tonne and US$2,191 per tonne.
3-month bid price and 3-month offer price plunged by US$49 per tonne or 2.16 per cent and US$48 per tonne or 2.11 per cent to record at US$2,216 per tonne and US$2,218 per tonne.
December 23 bid price and December 23 offer price declined by US$38 per tonne or 1.61 per cent to settle at US$2,317 per tonne and US$2,322 per tonne.
LME aluminium opening stock was recorded at 343325 tonnes. Live warrants and Cancelled warrants came in at 278600 tonnes and 64725 tonnes.
LME aluminium 3-month Asian Reference price went down by US$3.65 per tonne or 0.16 per cent to close at US$2,250.43 per tonne.
SHFE aluminium price
On Thursday, September 22, the benchmark aluminium price for SHFE inched down by US$1 per tonne to arrive at US$2,629 per tonne.
The most-traded SHFE 2210 aluminium closed down 0.27 per cent or RMB 50 per tonne to RMB 18,670 per tonne, with open interest down 11,264 lots to 144,981 lots.
The most-traded SHFE 2210 aluminium contract opened at RMB 18,590 per tonne overnight and rose to RMB 18,645 per tonne before closing at RMB 18,505 per tonne, down RMB 165 per tonne or 0.88 per cent.
Responses
