14 SEPTEMBER 2023 AL CIRCLE

LME benchmark aluminium price plunges by 6.62% Y-o-Y; SHFE aluminium price sheds US$19/t today

EDITED BY : MAYURAKSHI GANGULY 2MINS READ

LME aluminium opened at US$2,199 per tonne on Wednesday, with its high and low at US$2,220 per tonne and US$2,191 per tonne, respectively, before closing at US$2,211 per tonne, an increase of US$14.5 per tonne or 0.66 per cent.

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The LME aluminium live price chart experienced mixed aluminium price trends on September 13, with the LME aluminium cash bid price and the LME aluminium official price gaining US$3.50 per tonne or 0.16 per cent to officially close at US$2,156 per tonne and US$2,156.50 per tonne.

One year back, on September 13, the LME aluminium price was US$2,309.50, which plummeted by US$153 per tonne or 6.62 per cent to stop at the recent price.

London Metal Exchange graph displayed that the 3-month bid price and the 3-month offer price have slumped by US$3.50 per tonne or 0.16 per cent and US$2 per tonne or 0.09 per cent, respectively, to stop at US$2,195 per tonne and US$2,197 per tonne.

The December 24 bid price and the December 24 official price have plunged by US$10 per tonne or 0.43 per cent, settling at US$2,330 per tonne and US$2,335 per tonne.

LME aluminium opening stock recorded a downward shift of 2,575 tonnes or 0.52 per cent to finally settle at 491,300 tonnes. Live warrants stood at 229,250 tonnes, with 950 tonnes or 0.42 per cent being added to it. Cancelled warrants accumulated 262,050 tonnes, losing 1.33 per cent or 3,525 tonnes.

LME aluminium 3-month Asian Reference Price halted at US$2,196.64 per tonne, down US$5.53 per tonne or 0.25 per cent.

SHFE aluminium price

Today, on September 14, the Shanghai Futures Exchange (SHFE) aluminium benchmark price has seen a retraction of US$19 per tonne or 0.71 per cent to settle at US$2,669 per tonne.

When the aluminium price on September 14 2022, is considered, we can see a drop of US$2 per tonne or 0.07 per cent Year-on-Year as the price was US$2,671 per tonne.

Overnight, the most-traded SHFE 2310 aluminium contract opened at RMB 19,175 per tonne, with its lowest and highest at RMB 19,110 per tonne and RMB 19,195 per tonne before closing at RMB 19,110 per tonne, flat 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.