LME aluminium price shrinks by US$29.5/t to US$2,468.50/t; SHFE price plunges by US$82/t

LME aluminium opened at US$2,522.5 per tonne last Friday and closed at US$2,433 per tonne, down US$84 per tonne or 3.34 per cent.

On Friday, August 12, LME aluminium cash bid price closed the week with a slip of US$28 per tonne or 1.12 per cent to settle at US$2,468 per tonne. On the same day, LME aluminium official settlement price also went down by US$29.5 per tonne or 1.18 per cent to rest at US$2,468.50 per tonne.

3-month bid price and 3-month offer price fell by US$25.5 per tonne or 1.02 per cent and US$27 per tonne or 1.08 per cent to close at US$2,465.50 per tonne and US$2,466 per tonne.

December 23 bid price and December 23 offer price dropped by US$27 per tonne or 1.06 per cent to score at US$2,500 per tonne and US$2,505 per tonne.

LME aluminium opening stock stood at 277225 tonnes. Live warrants and Cancelled warrants for the same day closed at 171900 tonnes and 105325 tonnes.

LME aluminium 3-month Asian Reference Price, on the other hand, went up by US$13.62 per tonne or 0.54 per cent to peg at US$2,514.92 per tonne.

SHFE aluminium price 

On August 15, the SHFE benchmark aluminium price plunged by US$82 per tonne or 2.90 per cent to close at US$2,740 per tonne.

The most-traded SHFE 2209 aluminium closed down 0.03 per cent or RMB 5 per tonne to RMB 18,725 per tonne, with open interest down 4,299 lots to 170,334 lots.

At last Friday’s night session, the most-traded SHFE aluminium 2209 contract fell to RMB 18,280 per tonne after opening at RMB 18,530 per tonne and closed at RMB 18,280 per tonne down RMB 390 per tonne or 2.09 per cent.