LME aluminium price plunges by US$79.5/t to US$2,500.50/t; SHFE price slumps by US$62/t

LME aluminium opened at US$2,619 per tonne on Thursday and closed at US$2,521.5 per tonne, down US$93.5 per tonne or 3.58 per cent.

On Thursday, June 16, both LME aluminium cash bid price and LME aluminium official settlement declined by US$79 per tonne or 3.06 per cent and US$79.5 per tonne or 3.08 per cent to settle at US$2,500 per tonne and US$2,500.50 per tonne.

3-month bid price and 3-month offer price plunged by US$70 per tonne or 2.69 per cent and US$69.5 per tonne or 2.67 per cent to close at US$2,524 per tonne and US$2,525 per tonne. December 23 bid price and December 23 offer price also went down by US$62 per tonne to halt at US$2,518 per tonne and US$2,523 per tonne.

LME aluminium opening stock stopped at 411575 tonnes. Live warrants and Cancelled warrants recorded at 172000 tonnes and 239575 tonnes.

3-month Asian Reference Price inclined downwards by US$29.32 per tonne or 1.13 percent to stop at US$2,608.96 per tonne.

SHFE aluminium price

On Friday, June 17, the benchmark aluminium price for SHFE has trended downwards by US$62 per tonne or 2.06 per cent to peg at US$2,947 per tonne.

The most-traded SHFE 2207 aluminium closed up 0.45 per cent or RMB 90 per tonne to RMB 20,005 per tonne, with open interest down 10,519 lots to 155,126 lots.

The most-traded SHFE 2207 aluminium contract opened at RMB 19,820 per tonne overnight and closed at RMB 19,660 per tonne, down RMB 395 per tonne or 1.97 per cent.