LME benchmark aluminium price plummets 3.55% to US$2227.5/t; SHFE loses US$1/t

LME aluminium opened at US$2,309.5 per tonne on Wednesday and closed at US$2,273.5 per tonne, down 1.43 per cent.

LME aluminium cash bid price and LME aluminium official settlement price both plunged by US$82 per tonne or 3.55 per cent to rest at US$2,227 per tonne and US$2,227.50 per tonne on Wednesday, September 14.   

3-month bid price descended by 3.53 per cent or US$82 per tonne to stand at US$2,243 per tonne, while the 3-month offer price witnessed a drop of US$82.50 per tonne or 3.55 per cent closing at US$2,244 per tonne. 

December 23 bid price and December 23 offer price lost 3.24 per cent or US$78 per tonne stopping at US$2,332 per tonne and US$2,337 per tonne, respectively.

LME aluminium opening stock rose first time in a while by 3.81 per cent or 12,700 tonnes, from 332,900 tonnes to 345,600 tonnes as of September 14.

Live warrants totalled 273,100 tonnes, with a rise of 5.53 per cent or 14,325 tonnes.

Cancelled warrants read 72,500 tonnes, shedding 2.19 per cent or 1,625 tonnes from the day before.

LME aluminium 3-month Asian Reference Price came in at US$2,305.87 per tonne, after 0.009 per cent or US$0.20 per tonne got reduced.

SHFE aluminium price 

Today, on September 15, the SHFE benchmark aluminium price slipped down by US$1 per tonne or 0.04 per cent to arrive at US$2,672 per tonne, if compared with yesterday’s data.  

The most-traded SHFE 2210 aluminium contract opened at RMB 18,470 per tonne overnight before closing at RMB 18,455 per tonne, down RMB 210 per tonne or 1.13 per cent.

The most-traded SHFE 2210 aluminium closed down 0.88 per cent or RMB 165 per tonne to RMB 18,625 per tonne, with open interest down 3,391 lots to 170,451 lots.