LME aluminium price shrank by US$46.5/t to close at US$2667.5/t; SHFE price inched up by U$5/t

LME aluminium opened at US$2,710 per tonne on Wednesday morning and closed at US$2,693.50 per tonne, down by US$13 per tonne or 0.48 per cent.

LME aluminium cash (bid) price and LME official settlement price plunged by US$46.50 per tonne to stand at US$2,667.50 per tonne on Wednesday, September 1, following the two consecutive days of rise to a 10-year high. 3-months bid price and 3-months offer price declined by US$31.50 per tonne to come in at US$2,664.50 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$2,620 per tonne, down by US$28 per tonne from US$2,648 per tonne on August 31.

LME aluminium opening stock increased from 1334675 tonnes to 1336850 tonnes. Live Warrants stood at 862625 tonnes, while Cancelled Warrants totalled 474225 tonnes.

LME aluminium 3-months Asian Reference Price settled at US$2,690.01 per tonne as of September 1.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE inched up by US$5 per tonne to settle at US$3284 per tonne on Thursday, September 2.

The most-traded SHFE 2110 aluminium contract opened Wednesday’s night session at RMB21,055 per tonne, with the highest and lowest prices at RMB21,160 per tonne and RMB20,910 per tonne before closing at RMB21,085 per tonne, up RMB10 per cent or 0.05 per cent.