LME benchmark aluminium price glides down by 3.74% to US$2250/t; SHFE releases US$56/t

LME aluminium opened at US$2,272 per tonne on Wednesday, with its high and low at US$2,277 per tonne and US$2,265 per tonne respectively before closing at US$2,267 per tonne, a drop of US$6 per tonne or 0.22 per cent.

On January 4, Wednesday, LME aluminium cash bid price went down by US$88 per tonne or 3.76 per cent, closing at US$2,249 per tonne and the LME aluminium official settlement price dropped by US$87.50 per tonne or 3.74 per cent to rest at US$2,250 per tonne.

The 3-month bid price and the 3-month offer price experienced a slump of US$82 per tonne or 3.46 per cent to close at US$2,286 per tonne and US$2,287 per tonne, respectively.

December 24 bid price and December 24 offer price stood at US$2,477 per tonne and US$2,482 per tonne on Wednesday.

LME aluminium opening stock dived down by 4,825 tonnes or 1.08 per cent to settle at 442,425 tonnes from 447,250 tonnes recorded the day before.    

Live warrants totalled 201,350 tonnes with no change at all. Cancelled warrants read 241,075 tonnes, with a loss of 4,825 tonnes or 1.96 per cent.  

Only, the 3-month Asian Reference Price came in at US$2,310 per tonne after a decline of US$75.14 per tonne or 3.15 per cent.

SHFE aluminium price 

Today, on January 5, the SHFE benchmark aluminium price has parked at US$2,622 per tonne, with a reduction of 2.09 per cent or US$56 per tonne.

The most-traded SHFE 2302 aluminium contract opened at RMB 17,800 per tonne overnight, with its high and low at RMB 17,880 per tonne and RMB 17,740 per tonne before closing at RMB 17,795 per tonne, down RMB 70 per tonne or 0.39 per cent.

The most-traded SHFE 2302 aluminium closed down 2.54 per cent or RMB 465 per tonne at RMB 17,865 per tonne, with open interest up 12,967 lots to 166,369 lots.