LME aluminium price recovers US$12.5/t to settle at US$2208/t; SHFE price resumes market with a 1.15% decline

The three-month LME aluminum opened at US$2,232 per tonne, with high and low at US$2,248 per tonne and US$2,222.50 per tonne, respectively, before closing at US$2,246 per tonne, up by $14 per tonne or 0.63 per cent.

On Friday, October 6, the LME aluminium cash bid price rose by US$12 per tonne to stand at US$2,207 per tonne and the LME aluminium official settlement price increased by US$12.50 per tonne to come in at US$2,208 per tonne, following a fall of US$35.50 per tonne on the previous day.

The 3-month bid price and 3-month offer price grew by US$7 per tonne and US$6 per tonne, respectively, to come in at US$2,238 per tonne andUS$2,239 per tonne, as of October 6. December 24 bid price and December 24 offer price settled at US$2,370 per tonne and US$2,375 per tonne, up by US$2 per tonne from US$2,368 per tonne and US$2,373 per tonne.

LME aluminium opening stock closed the week at 497,650 tonnes, down by 3,200 tonnes from the earlier day.  Live Warrants remained restrained at 193,300 tonnes, while Cancelled Warrants declined by 3,200 tonnes to clock in at 304,350 tonnes.

The 3-month Asian Reference Price stood at US$2,228.68 per tonne on October 6, down by US$5.72 per tonne from US$2,234.04 per tonne on October 5.

SHFE aluminium price:

Aluminium benchmark price on the Shanghai Futures Exchange resumed the market from a week-long Mid-Autumn Festival holiday with a fall of US$31 per tonne or 1.15 per cent to start the week, October 9, at US$ 2,671per tonne.

On the final trading day before the National Day holiday, the most-traded SHFE 2311 aluminum contract opened at RMB 19,420 per tonne, with its lowest and highest at RMB 19,390 per tonne and RMB 19,645 per tonne before closing at RMB 19,445 per tonne, up RMB 55 per tonne or 0.28 per cent compared with the previous trading day.