LME benchmark aluminium price shrinks by US$12.5/t to US$2164.5/t; SHFE aluminium price drops US$4/t

LME aluminium opened at US$2213 per tonne in the previous trading day, with its low and high at US$2199.5 per tonne and US$2225.5 per tonne, respectively, before closing at US$2218.5 per tonne, up US$6 per tonne or 0.27 per cent.

On November 28, the LME aluminium live price chart registered a linear market trend, with the LME aluminium cash bid price and the LME aluminium official price shedding US$12 per tonne or 0.55 per cent and US$12.50 per tonne or 0.57 per cent to officially close at US$2,164 per tonne and US$2,164.50 per tonne.

London Metal Exchange graph displayed that the 3-month bid price and the 3-month offer price plunged by US$13 per tonne or 0.58 per cent and US$12.50 per tonne or 0.56 per cent to anchor at US$2,208 per tonne and US$2,209 per tonne, respectively.

The December 24 bid price and the December 24 offer price shrunk by US$15 per tonne or 0.64 per cent, arriving at US$2,325 per tonne and US$2,330 per tonne.

LME aluminium opening stock plummeted by 4,000 tonnes or 1.48 per cent, officially marking 467,875 tonnes. Live warrants stood at 201,525 tonnes, experiencing no alteration. Cancelled warrants halted at 266,350 tonnes, losing 4,000 tonnes or 1.48 per cent.

LME aluminium 3-month Asian Reference Price stopped at US$2,215 per tonne, down US$13.86 per tonne or 0.62 per cent.

SHFE aluminium price

On November 29, today, the Shanghai Futures Exchange (SHFE) aluminium price chart displayed a drop of US$4 per tonne or 0.15 per cent, with the official SHFE price resting at US$2,648 per tonne.

Overnight, the most-traded SHFE 2401 aluminium contract opened at RMB 18795 per tonne, with the highest and lowest prices at RMB 18820 per tonne and RMB 18755 per tonne before closing at RMB 18790 per tonne, down RMB 35 per tonne or 0.19 per cent. 

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.