LME benchmark aluminium price discards US$27/t; SHFE aluminium price gains US$21/t

LME aluminium opened at US$2,572.5 per tonne in the previous trading day, with its high and low at US$2,600.5 per tonne and US$2,555.5 per tonne respectively before closing at US$2,560.5 per tonne, down US$10.5 per tonne or 0.41 per cent.

The London Metal Exchange graph on April 26, showed a decline in aluminium prices, with the LME cash bid price locking at US$2,559 per tonne, with a loss of US$27 per tonne or 1.04 per cent and the LME official price settling down at US$2,559.50 per tonne, incurring a similar plunge.

The 3-month bid price and the 3-month offer price have both slumped by US$23 per tonne or 0.88 per cent to close at US$2,586.50 per tonne and US$2,587 per tonne, respectively.

The 25 December bid price and the 25 December offer price both have negated US$24 per tonne or 0.88 per cent to officially close at US$2,688 per tonne and US$2,693 per tonne.

The opening stock has slumped by 725 tonnes or 4.06 per cent to close at 494,150 tonnes. Live and cancelled stocks parked at 153,375 tonnes and 340,775 tonnes.

The LME Asian reference price has decreased by US$6.14 per tonne or 0.24 per cent to arrive at US$2,584.69 per tonne.

SHFE aluminium price

The Shanghai Futures Exchange (SHFE) aluminium benchmark price has stopped at US$2,846 per tonne, with a hike of US$21 per tonne or 0.74 per cent.

At last Friday’s night session, the most-traded SHFE 2406 aluminium contract opened at RMB 20,625 per tonne, with its lowest and highest at RMB 20,575 per tonne and RMB 20,770 per tonne before closing at RMB 20,670 per tonne, up RMB 45 per tonne or 0.22 per cent.

SHFE 2307 aluminium added RMB 595 per tonne or 3.38 per cent to RMB 18,185 per tonne. The open interest fell 11,785 lots to 256,640 lots.