LME aluminium price slowed down this week to US$2212.50/t; SHFE price closed marginally higher at US$2667/t

Three-month LME aluminium showed restraint on Monday at US$ 2,273.50 per tonne but fell the next day, on March 30, to US$ 2227.50 per tonne. On Wednesday, March 31, the price dropped further by 0.67 per cent to settle at US$ 2,212.50 per tonne; however, it rose on Thursday, April 1, by 0.79 per cent to US$ 2,230 per tonne.

As of Monday, March 29, LME aluminium cash (bid) price and LME official settle price started the week at US$ 2255.50 per tonne, which on Tuesday, March 30, decreased by US$ 35 per tonne to US$ 2220.50 per tonne. Continuing to decline further, both LME aluminium cash (bid) price and LME official settle price stood at US$ 2212.50 per tonne on Wednesday, March 31. On Thursday, April 1, the prices closed the week restrained.

On Monday, March 29, 3-months bid price and 3-months offer price stood at US$ 2279 per tonne, which declined on March 30 by US$ 33 per tonne to come in at US$ 2246 per tonne and further to US$ 2235 per tonne on Wednesday, March 31. On Thursday, April 1, the price closed slightly higher by US$ 1 per tonne to US$ 2236 per tonne.

Dec 22 bid price and Dec 22 offer price also slowed down this week from US$ 2284 per tonne on March 29 to US$ 2256 per tonne on April 1.  The LME aluminium opening stock slipped from 1917075 tonnes to 1889400 tonnes.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE closed the week on Friday, April 2, at US$ 2,667 per tonne. On Monday, March 29, the price stood at US$ 2,666 per tonne, which on Tuesday, March 30, plunged by US$ 20 per tonne to US$ 2646 per tonne per tonne. On Wednesday, March 31, the price extended the decline by US$ 30 per tonne to clock at US$ 2616 per tonne. On Thursday, April 1, the price rose to US$ 2626 per tonne and further increased to US$ 2,667 per tonne on Friday, April 2.