LME benchmark aluminium price negates US$26/t on October 4; SHFE records no activity due to the Mid-Autumn Festival

On October 4, the LME aluminium live price chart witnessed deescalating prices, with the LME aluminium cash bid price and the LME aluminium official price losing US$25.50 per tonne or 1.13 per cent and US$26 per tonne or 1.15 per cent, respectively, to officially close at US$2,230.50 per tonne and US$2,231 per tonne.

If the LME aluminium price on September 28 is taken into account, it can be there has been a drop of US$1 per tonne or 0.04 per cent on a Week-on-Week basis from US$2,232 per tonne to what it was yesterday. It can also be seen that within the week, only on September 29, the price soared to US$2,307.50 per tonne. Other than that, the trend was overall linear. 

London Metal Exchange graph displayed that the 3-month bid price and the 3-month offer price have both decreased by US$22 per tonne or 0.96 per cent and US$23 per tonne or 1 per cent to stop at US$2,270 per tonne and US$2,271 per tonne.

The December 24 bid price and the December 24 offer price have shed US$22 per tonne or 0.90 per cent, settling at US$2,405 per tonne and US$2,410 per tonne.

LME aluminium opening stock recorded a noticeable slump of 2,000 tonnes or 0.4 per cent to finally settle at 502,850 tonnes. Live warrants stood at 193,300 tonnes, with no change at all. Cancelled warrants levitated by 2,000 tonnes or 0.64 per cent to park at 309,550 tonnes.

LME aluminium 3-month Asian Reference Price halted at US$2,276.60 per tonne, down US$33.56 per tonne or 1.45 per cent.

SHFE aluminium price

Today, on October 5, the Shanghai Futures Exchange (SHFE) aluminium price chart has displayed no updates, with the market in China being closed for the Mid-Autumn Festival and the National Day Holidays.