LME benchmark aluminium price goes US$22/t down to US$2344/t; SHFE aluminium price marks US$24/t rise

LME aluminium opened at US$2,380.5 per tonne on Thursday, with its high and low at US$2,400 per tonne and US$2,369.5 per tonne respectively before closing at US$2,386.5 per tonne, an increase of US$3.5 per tonne or 0.15 per cent.

On March 30, Wednesday, the LME aluminium cash bid price and the LME aluminium official settlement price slumped by US$22 per tonne or 0.93 per cent to close at US$2,343.50 per tonne and US$2,344 per tonne.

The 3-month bid price dropped down by US$23.50 per tonne or 0.97 per cent, stopping at US$2,386 per tonne and the 3-month offer price plunged by US$22 per tonne or 0.91 per cent halting at US$2,388 per tonne.

December 24 bid price and December 24 offer price halted at US$2,577 per tonne and US$2,582 per tonne with a decline of US$16 per tonne or 0.61 per cent.

LME aluminium opening stock witnessed 3,900 tonnes or 0.74 per cent loss to anchor at 525,275 tonnes from 529,175 tonnes recorded the day before.       

Live warrants totalled 431,825 tonnes, with no considerable change recorded yesterday. Cancelled warrants read 93,450 tonnes, with a fall of 3,900 tonnes or 4 per cent.

The 3-month Asian Reference Price came in at US$2,377.29 per tonne after it shed US$0.15 per tonne or 0.01 per cent.

SHFE aluminium price

On March 31, today, the SHFE aluminium benchmark price has settled at US$2,727 per tonne, with a US$24 per tonne or 0.89 per cent spike.

Overnight, the most-traded SHFE 2305 aluminium contract opened at RMB 18,735 per tonne, with its lowest and highest at RMB 18,685 per tonne and RMB 18,770 per tonne before closing at RMB 18,715 per tonne, up RMB 20 per tonne or 0.11 per cent.

The most-traded SHFE 2305 aluminium closed up 0.03 per cent or RMB 50 per tonne at RMB 18,695 per tonne, with open interest down 205 lots to 219,007 lots.