LME benchmark aluminium price sheds US$38.5/t; SHFE aluminium price dives down by US$30/t

LME aluminium opened at US$2,626.5 per tonne on Thursday and closed at US$2,604.5 per tonne, a decrease of US$1 per tonne or 0.04 per cent.

On February 2, Thursday, the LME aluminium cash bid price slumped by US$38 per tonne or 1.45 per cent to log at US$2,572 per tonne and the LME aluminium official settlement price plunged by US$38.50 per tonne or 1.47 per cent, settling at US$2,572.50 per tonne. The aluminium price witnessed a sudden rise on February 1, again falling prey to the declining trend, the next day.

The 3-month bid price and the 3-month offer price have dropped by US$35 per tonne or 1.32 per cent, officially resting at US$2,607 per tonne and US$2,609 per tonne.

December 24 bid price and December 24 offer price have both halted at US$2,768 per tonne and US$2,773 per tonne on Thursday, with a similar price loss of US$30 per tonne or 1.07 per cent.

LME aluminium opening stock witnessed an inventory decrease of 4,550 tonnes or 1.12 per cent to settle at 399,600 tonnes from 404,150 tonnes recorded on Wednesday.

Live warrants totalled 231,125 tonnes showing no change at all. Cancelled warrants read 168,475 tonnes, with 4,550 tonnes or 2.63 per cent subtracted from it.

The 3-month Asian Reference Price came in at US$2,634.12 per tonne after soaring by US$5.60 per tonne or 0.21 per cent.

SHFE aluminium price

On February 3, today, the SHFE aluminium benchmark price has clocked at US$2,817 per tonne, with a marked de-escalation of US$30 per tonne or 1.05 per cent.

The most-traded SHFE 2303 aluminium contract opened at RMB 19,065 per tonne overnight before closing at RMB 19,110 per tonne, up RMB 15 per tonne or 0.08 per cent.

The most-traded SHFE 2303 aluminium closed down 0.03 per cent or RMB 5 per tonne at RMB 19,095 per tonne, with open interest down 3,903 lots to 196,606 lots.