LME aluminium opened at US$2,332 per tonne on Thursday and closed at US$2,326 per tonne, down 0.21 per cent. Growing concerns around inflation in the West have simultaneously raised brows in the trade sector, with LME maintaining a below US$2,500 per tonne mark and the Chinese inventories on a destocking spree.
On April 27, Thursday, the LME aluminium cash bid price came in at US$2,301.50 per tonne and the LME aluminium official settlement price settled at US$2,302 per tonne, with a loss of US$37.50 per tonne or 1.6 per cent.
The 3-month bid price plunged by US$45.50 per tonne or 1.93 per cent to settle at US$2,309.50 per tonne, and the 3-month offer price dived down US$46 per tonne or 1.95 per cent halting at US$2,310 per tonne.
December 24 bid price and December 24 offer price halted at US$2,487 per tonne and US$2,492 per tonne, with a fall of US$45 per tonne or 1.77 per cent.
LME aluminium opening stock witnessed a decline of 1,500 tonnes or 0.26 per cent to clock at 570,300 tonnes.
Live warrants totalled 497,700 tonnes, tumbling by 1000 tonnes from the day before. Cancelled warrants read 72,600 tonnes, with 500 tonnes or 0.68 per cent loss.
The 3-month Asian Reference Price came in at US$2,317.06 per tonne after US$28.37 per tonne or 1.21 per cent slump.
SHFE aluminium price
On April 28, today, the SHFE aluminium benchmark price settled at US$2,670 per tonne, with a US$16 per tonne or 0.59 per cent rise.
Overnight, the most-traded SHFE 2306 aluminium contract went down to RMB 18,325 per tonne after opening at RMB 18,415 per tonne, but then rebounded before closing at RMB 18,465 per tonne, down RMB 105 per tonne or 0.57 per cent.
SHFE 2306 aluminium dipped RMB 255 per tonne or 1.36 per cent to RMB 18,435 per tonne. The open interest lost 17,071 lots to 223,462 lots.
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