LME benchmark aluminium price discards US$4.50/t on November 1; SHFE aluminium price floats by US$7/t

LME aluminium opened at US$2246 per tonne on Wednesday, with its low and high at US$2233.5 per tonne and US$2257 per tonne, respectively, before closing at US$2242.5 per tonne, down 0.16 per cent.

On November 1, the LME aluminium live price chart experienced a slump in aluminium prices, with the LME aluminium cash bid price and the LME aluminium official price diving down by US$4.50 per tonne or 0.2 per cent to officially close at US$2,230 per tonne and US$2,230.50 per tonne. 

London Metal Exchange graph flashed that the 3-month bid price and the 3-month offer price have negated US$5 per tonne or 0.22 per cent and US$5.50 per tonne or 0.24 per cent to park at US$2,241 per tonne and US$2,241.50 per tonne, respectively. 

The December 24 bid price and the December 24 offer price have seen a drop of US$5 per tonne or 0.21 per cent, settling at US$2,355 per tonne and US$2,360 per tonne.

LME aluminium opening stock recorded a slump of 2,025 tonnes or 0.43 per cent, arriving at 472,700 tonnes. Live warrants stood at 203,800 tonnes, with no notable movement. Cancelled warrants halted at 268,900 tonnes, plummeting by 2,025 tonnes or 0.75 per cent. 

LME aluminium 3-month Asian Reference Price stopped at US$2,250 per tonne, down US$8 per tonne or 0.35 per cent.

SHFE aluminium price

Today, on November 2, the Shanghai Futures Exchange (SHFE) aluminium price chart displayed growth in aluminium prices, with the official SHFE price halting at US$2,635 per tonne, following a slight rise of US$7 per tonne or 0.27 per cent. 

Overnight, the most-traded SHFE 2312 aluminium contract opened at RMB 19265 per tonne, with its low and high at RMB 19190 per tonne and RMB 19265 per tonne before closing at RMB 19205 per tonne, down RMB 30 per tonne or 0.16 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.