LME benchmark aluminium price dips by US$8.5/t; SHFE levitates to US$2760/t with US$7/t gain

LME aluminium opened at US$2,455 per tonne on Wednesday, with its high and low at US$2,466.5 per tonne and US$2,423 per tonne respectively before closing at US$2,452 per tonne, a drop of US$2.5 per tonne or 0.1 per cent.

On December 14, Wednesday, LME aluminium cash bid price slumped by RMB 8 per tonne or 0.33 per cent, resting at RMB 2,379 per tonne and the LME aluminium official settlement price trickled down by US$8.50 per tonne or 0.35 per cent, closing at US$2,379.50 per tonne.

The 3-month bid price and the 3-month offer price refrained from any alteration.

December 23 bid price and December 23 offer price both hiked US$2 per tonne or 0.08 per cent, stopping at US$2,505 per tonne and US$2,510 per tonne, respectively.

LME aluminium opening stock experienced a plunge of 7,125 tonnes or 1.43 per cent to settle at 489,300 tonnes from 496,425 tonnes recorded the previous day.   

Live warrants totalled 261,350 tonnes, showing no change. Cancelled warrants read 227,950 tonnes, going down by 7,125 tonnes or 3.03 per cent.  

LME aluminium 3-month Asian Reference Price came in at US$2,459.32 per tonne after a rise of US$34.14 per tonne or 1.41 per cent.

SHFE aluminium price 

Today, on December 15, the SHFE benchmark aluminium price has shot up by US$7 per tonne or 0.25 per cent, closing at US$2,760 per tonne.

The most-traded SHFE 2211 aluminium contract opened at RMB 18,730 per tonne overnight, with its low and high at RMB 18,680 per tonne and RMB 18,845 per tonne before closing up RMB 5 per tonne or 0.03 per cent.

The most-traded SHFE 2301 aluminium closed up 0.53 per cent or RMB 100 per tonne at RMB 18,800 per tonne, with open interest down 10,872 lots to 148,609 lots.