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23 APRIL 2022 AL CIRCLE

LME aluminium price swings down this week by US$68/t to US$3244/t; SHFE price shrinks to US$3384/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

The LME aluminium benchmark price resumed from the Easter Holiday on Tuesday, April 19, with a growth of 2 per cent. LME aluminium cash bid price and LME aluminium official settlement price grew by 2.25 per cent and 2.30 per cent on April 19 to settle at RMB 3,310 per tonne and RMB 3,312 per tonne, respectively, in comparison with the prices on Thursday, April 14. On Wednesday, April 20, the prices recorded a plunge of US$71 per tonne and US$72 per tonne to stand at US$3,239 per tonne and USS$3,240 per tonne, following which on Thursday, April 21, both LME aluminium cash bid price and LME aluminium official settlement price rose by US$22 per tonne to rest at US$3,261 per tonne and US$3,262 per tonne. On Friday, April 22, the prices slipped again to close the week at US$3,243.50 per tonne and US$3,244 per tonne.

LME aluminium price swings down this week by US$68/t to US$3244/t; SHFE price shrinks to US$3384/t

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In the beginning of the week, on Tuesday, April 19, 3-month bid price and 3-month offer price jumped by US$60 per tonne or 1.84 per cent to stand at US$3,325 per tonne and US$3,326 per tonne. On Wednesday, April 20, the prices faced downswing of US$77 per tonne and US$76 per tonne to come in at US$3,248 per tonne and US$3,250 per tonne, but cruised upward by US$27 per tonne and US$26 per tonne to US$3,275 per tonne and US$3,276 per tonne on Thursday, April 21. On Friday, the prices dropped to close at US$3,259 per tonne and US$3,261 per tonne.

LME aluminium opening stock decreased through the week from 603,650 tonnes to 586000 tonnes.

Global Aluminium Industry Outlook 2022

SHFE aluminium price 

The benchmark aluminium price for SHFE initiated the week with hikes but later on ended with three consecutive declines. On Monday, April 18, the SHFE aluminium benchmark price grew by US$8 per tonne to stand at US$3,426 per tonne, which further expanded significantly by US$40 per tonne to settle at US$3,466 per tonne as of Tuesday, April 19. But Wednesday onwards, the SHFE price started declining to US$3,408 per tonne. On Thursday, April 21, the price stood lower at US$3,402 per tonne and further at US$3,384 per tonne on Friday, April 22.

Tagged with:

Price LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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