LME benchmark aluminium price dwindles down by US$20/t; SHFE also loses US$27/t

LME aluminium opened at US$2,394 per tonne on Thursday and closed at US$2,368 per tonne, down US$22 per tonne or 0.92 per cent.

On November 24, Thursday LME aluminium cash bid price slumped to US$2343.50 per tonne after US$19.50 per tonne or 0.82 per cent was subtracted from it, and the LME aluminium official settlement price dived by US$20 per tonne or 0.85 per cent to close at US$2,344 per tonne. 

The 3-month bid price and the 3-month offer price had a similar price plunge of US$16 per tonne or 0.67 per cent, resting at US$2,373 per tonne and US$2,375 per tonne, respectively.

December 23 bid price and December 23 offer price both dropped by US$12 per tonne or 0.49 per cent, stopping at US$2,443 per tonne and US$2,448 per tonne.

LME aluminium opening stock plummeted by 3,825 tonnes or 0.74 per cent to settle at 509,450 tonnes from 513,275 tonnes recorded on Wednesday.   

Live warrants totalled 282,400 tonnes, shedding 2,125 tonnes or 0.75 per cent. Cancelled warrants read 227,050 tonnes, marking a dip of 1,700 tonnes or 0.74 per cent.  

LME aluminium 3-month Asian Reference Price came in at US$2,412 per tonne after losing US$9.50 per tonne or 0.39 per cent.

SHFE aluminium price 

Today, on November 25, the SHFE benchmark aluminium price has also gone down by US$27 per tonne or 1.01 per cent, closing at US$2,641 per tonne.

The most-traded SHFE 2301 aluminium contract opened at RMB 18,965 per tonne overnight and rose to RMB 19,020 per tonne before closing at RMB 18,850 per tonne, down RMB 115 per tonne or 0.61 per cent.

The most-traded SHFE 2212 aluminium closed up 0.55 per cent or RMB 105 per tonne at RMB 19,055 per tonne, with open interest down 12,590 lots to 127,222 lots.