LME benchmark aluminium price lowers down to US$2315.5/t with US$30.5/t loss; SHFE rises by US$55/t

LME aluminium opened at US$2,352 per tonne on Monday and closed at US$2,374 per tonne, an increase of US$9 per tonne or 0.38 per cent.

On November 28, Monday LME aluminium cash bid price and the LME aluminium official settlement price dived down by US$30.50 per tonne or 1.3 per cent to close at US$2,315 per tonne and US$2,315.50 per tonne, respectively.  

The 3-month bid price saw a drop of US$27 per tonne or 1.13 per cent, settling at US$2,353 per tonne, while the 3-month offer price had a similar price plunge of US$27.50 per tonne or 1.15 per cent, resting at US$2,353.50 per tonne.

December 23 bid price and December 23 offer price both de-escalated by US$28 per tonne or 1.14 per cent, stopping at US$2,422 per tonne and US$2,427 per tonne.

LME aluminium opening stock plummeted by 2,575 tonnes or 0.51 per cent to settle at 503,700 tonnes from 506,275 tonnes recorded on last Friday.   

Live warrants totalled 281,900 tonnes, shedding 500 tonnes or 0.18 per cent. Cancelled warrants read 221,800 tonnes, marking a dip of 2,075 tonnes or 0.93 per cent.  

LME aluminium 3-month Asian Reference Price came in at US$2,348.75 per tonne after losing US$32.45 per tonne or 1.36 per cent.

SHFE aluminium price 

Today, on November 29, the SHFE benchmark aluminium price has escalated by US$55 per tonne or 2.11 per cent, closing at US$2,656 per tonne.

The most-traded SHFE 2301 aluminium contract opened at RMB 18,740 per tonne overnight and rose to RMB 18,965 per tonne before closing at RMB 18,925 per tonne, up RMB 235 per tonne or 1.26 per cent.

The most-traded SHFE 2301 aluminium closed down 1.08 per cent or RMB 205 per tonne at RMB 18,690 per tonne, with open interest down 5,812 lots to 202,498 lots.