LME aluminum benchmark price sheds off 1.7%; SHFE initiates the week with a fall of US$69/t

LME aluminum opened at $2,220.50 per tonne on last Friday, with its high and low at US$2,231.50 per tonne and US$2,187 per tonne respectively before closing at US$2,196 per tonne, a decrease of US$24 per tonne or 1.08 per cent.

On Friday, September 15, the LME aluminium cash bid price and LME aluminium official settlement price plunged by US$37 per tonne or 1.69 per cent to close the week at US$2,155 per tonne and US$2,155.50 per tonne, respectively.

On the same day, the 3-month bid price and 3-month offer price shrank by US$38.50 per tonne and US$38 per tonne, settling at US$2,196 per tonne and US$2,197 per tonne. December 24 bid price and December 24 offer price stood at US$2,332 per tonne and US$2,337 per tonne, respectively, experiencing a fall of US$38 per tonne at the week-end.

LME aluminium opening stock parked at 495,400 tonnes on September 15, down by 3,125 tonnes from 498,525 tonnes on September 14. Live Warrants, on the other hand, increased by 1,000 tonnes to 239,475 tonnes, but Cancelled Warrants slipped by 4,125 tonnes to 255,925 tonnes.

LME aluminium 3-month Asian Reference Price remained restrained at US$2,223.09 per tonne on September 15 compared to 2,223.08 per tonne on the previous day.

SHFE aluminium price:

On Monday, September 18, the SHFE aluminium benchmark price initiated the week with a downfall of US$69 per tonne to peg at US$2,634 per tonne.

Last Friday night, the most-traded SHFE 2310 aluminum contract opened at RMB 19,280 per tonne, with its lowest and highest at RMB 19,155 per tonne and RMB 19,285 per tonne before closing at RMB 19,175 per tonne, down RMB 160 per tonne or 0.83 per cent compared with the previous trading day.