LME benchmark aluminium price narrows down by US$14.5/t in the week’s start; SHFE aluminium price sheds US$41/t

LME aluminium opened at US$2,193 per tonne on Monday, with its high and low at US$2,205 per tonne and US$2,179 per tonne, respectively, before closing at US$2,181 per tonne, a decrease of US$9 per tonne or 0.41 per cent.

On October 16, the LME aluminium live price chart experienced falling price traits, with the LME aluminium cash bid price and the LME aluminium official price discarding US$14.50 per tonne or 0.67 per cent to officially close at US$2,161 per tonne and US$2,161.50 per tonne.

London Metal Exchange graph displayed that the 3-month bid price and the 3-month offer price have dropped US$9.50 per tonne or 0.43 per cent to stop at US$2,191 per tonne and US$2,191.50 per tonne.

The December 24 bid price and the December 24 offer price have negated US$7 per tonne or 0.3 per cent, settling at US$2,315 per tonne and US$2,320 per tonne.

LME aluminium opening stock recorded a fall of 2,025 tonnes or 0.41 per cent, arriving at 486,600 tonnes. Live warrants stood at 193,350 tonnes, with a slight hike of US$50 per tonne or 0.2 per cent. Cancelled warrants plunged by 2,075 tonnes or 0.7 per cent to reside at 293,250 tonnes.

LME aluminium 3-month Asian Reference Price halted at US$2,203.71 per tonne, up US$3.60 per tonne or 0.16 per cent.

SHFE aluminium price

On October 17, today, the Shanghai Futures Exchange (SHFE) aluminium price chart flashed declining aluminium prices, with the official SMM price halting at US$2,572 per tonne, losing US$41 per tonne or 1.57 per cent.  

Overnight, the most-traded SHFE 2311 aluminium contract opened at RMB 18,975 per tonne, with its lowest and highest at RMB 18,900 per tonne and RMB 18,975 per tonne before closing at RMB 18,910 per tonne, down RMB 75 per tonne or 0.40 per cent compared with the previous trading day.

SHFE 2307 aluminium added RMB 595 per tonne or 3.38 per cent to RMB 18,185 per tonne. The open interest fell 11,785 lots to 256,640 lots.