LME benchmark aluminium price slides down by US$12.5/t to US$2236.5/t; SHFE price soars US$17/t

LME aluminium opened at US$2310 per tonne on Monday and fell to US$2,275 per tonne before closing at US$2,320 per tonne, up 0.59 per cent.

On March 13, Monday, the LME aluminium cash bid price slumped by US$12.50 per tonne or 0.56 per cent to clock at US$2,235.50 per tonne, and the LME aluminium official settlement price fell by US$12.50 per tonne or 0.55 per cent, officially settling at US$2,236.50 per tonne. The LME aluminium price has recorded the lowest in the month with a gradual declining trait.

The 3-month bid price has dropped by US$11 per tonne or 0.48 per cent, stopping at US$2,286 per tonne, whereas the 3-month offer price has decreased by US$10.50 per tonne or 0.46 per cent, closing at US$2,287 per tonne.

December 24 bid price and December 24 offer price halted at US$2,502 per tonne and US$2,507 per tonne yesterday, with a US$8 per tonne or 0.32 per cent drop.  

LME aluminium opening stock faced an inventory slash of 4,850 tonnes or 0.88 per cent to 543,525 tonnes from 548,375 tonnes recorded the week before.   

Live warrants totalled 427,075 tonnes, with no alteration from its position on March 10. Cancelled warrants read 116,450 tonnes, with a loss of 4,850 tonnes or 4 per cent.

The 3-month Asian Reference Price came in at US$2,329.13 per tonne after a hike of US$18.31 per tonne or 0.79 per cent.

SHFE aluminium price

On March 14, today, the SHFE aluminium benchmark price has clocked at US$2,663 per tonne, levitating by US$17 per tonne or 0.64 per cent.

The most-traded SHFE 2304 aluminium contract opened at RMB 18,270 per tonne overnight, and rose above RMB 18,300 per tonne before closing at RMB 18,310 per tonne, down RMB 125 per tonne or 0.68 per cent.

The most-traded SHFE 2304 aluminium closed up 0.38 per cent or RMB 70 per tonne at RMB 18,435 per tonne, with open interest down 2,509 lots to 193,559 lots.