LME aluminium price loses US$14/t to US$2,472.50/t; SHFE price moves up by US$9/t

LME aluminium opened at US$2,547 per tonne on Tuesday and dropped to US$2,505 per tonne before closing at US$2,534 per tonne, down 0.37 per cent.

On Tuesday, February 7, both LME aluminium cash bid price and LME aluminium official settlement price slipped by US$14 per tonne or 0.56 per cent to close at US$2,472 per tonne and US$2,472.50 per tonne.

3-month bid price and 3-month offer price dipped by US$12 per tonne or 0.47 per cent and US$13 per tonne or 0.51 per cent to reside at US$2,513 per tonne and US$2,514 per tonne.

December 24 bid price and December 24 offer price descended by US$13 per tonne or 0.48 per cent to score at US$2,685 per tonne and US$2,690 per tonne.

LME aluminium opening stock scored at 390200 tonnes. Live warrants and Cancelled warrants came in at 221575 tonnes and 168625 tonnes.

LME aluminium 3-month Asian Reference Price decreased by US$26 per tonne or 1.01 per cent to record US$2,548 per tonne.

SHFE aluminium price

On Wednesday, February 8, the SHFE aluminium benchmark price recorded a growth of US$9 per tonne or 0.32 per cent, stopping at US$2,819 per tonne.

The most-traded SHFE 2303 aluminium closed up 0.74 per cent or RMB 140 per tonne at RMB 19,095 per tonne, with open interest up 2,297 lots to 186,480 lots.

SHFE 2303 aluminium contract opened at RMB 19,030 per tonne overnight and mostly fluctuated above RMB 19,000 per tonne before finally closing at RMB 19,065 per tonne.