LME aluminium price plummets by US$115/t to US$2701.50/t; SHFE price ascends by US$35/t

LME aluminium opened at US$2,792.5 per tonne on Wednesday and closed at US$2,724 per tonne, down US$65 per tonne or 2.23 percent.

On Wednesday, June 1, both LME aluminium cash bid price and LME aluminium official settlement price plummeted by US$115 per tonne or 4.08 percent to close at US$2,701 per tonne and US$2,701.50 per tonne.

3-month bid price and 3-month offer price also dropped by US$120 per tonne to settle at US$2,728 per tonne and US$2,730 per tonne. December 23 bid price and December 23 offer price slumped by US$95 per tonne or 3.38 percent to score at US$2,710 per tonne and US$2,715 per tonne.

For the same day, LME aluminium opening stock halted at 453875 tonnes. Live warrants and Cancelled warrants stopped at 189325 tonnes and 264550 tonnes.

LME aluminium 3-month Asian Reference price plunged by US$97.44 per tonne or 3.37 percent to halt at US$2,793.73 per tonne.

SHFE aluminium price

On Thursday, June 2, the benchmark aluminium price for SHFE increased by US$35 per tonne or 1.16 percent to come in at US$3,051 per tonne.

The most-traded SHFE 2207 aluminium closed down 2.38 percent or RMB 495 per tonne to RMB 20,280 per tonne, with open interest up 3,999 lots to 186,703 lots.

Overnight, the most-traded SHFE 2207 aluminium contract opened at RMB 20,200 per tonne, with its low and high at RMB 20,160 per tonne and RMB 20,385 per tonne before closing at RMB 20,295 per tonne, up RMB 15 per tonne or 0.07 percent.