LME benchmark aluminium price slides down by US$32/t; SHFE stands 1.09% lower following 3 straight days of rise

LME aluminium opened at US$2,289.50 per tonne on Tuesday and closed at US$2,260.50 per tonne.

LME aluminium cash bid price halted at US$2,258 per tonne, striped down by 1.4 per cent or US$32 per tonne on Tuesday, September 6, while LME aluminium official settlement price rested at US$2,260 per tonne, experiencing a drop of 1.33 per cent or US$30.50 per tonne.   

3-month bid price descended by 1.18 per cent or US$27 per tonne to stand at US$2,262 per tonne, while the 3-month offer price witnessed a similar slump closing at US$2,263 per tonne. 

December 23 bid price shed 0.94 per cent or US$22 per tonne closing at US$2,325 per tonne, while December 23 offer price lost 0.93 per cent or US$22 per tonne coming in at US$2,330 per tonne.

LME aluminium opening stock increased for the first time in a while by 11.3 per cent or 31,325 tonnes, from 277,050 tonnes to 308,375 tonnes as of September 6.

Live warrants totalled 226,450 tonnes, with a rise of 16.97 per cent or 32,850 tonnes.

Cancelled warrants read 81,925 tonnes, with a 1.8 per cent or 1,525 tonnes decline from the day before.

LME aluminium 3-month Asian Reference Price came in at US$2,292.22 per tonne, after losing 0.4 per cent or US$9.31 per tonne.

SHFE aluminium price 

Today, on September 7, the SHFE benchmark aluminium price experienced a US$29 per tonne or 1.09 per cent decrease after three days of rise to stand at US$2,632 per tonne, if compared with yesterday’s board. 

The most-traded SHFE 2210 aluminium contract opened at RMB 18,345 per tonne overnight, and rose to RMB 18,405 per tonne before closing at RMB 18,295 per tonne, down RMB 105 per tonne or 0.57 per cent.

The most-traded SHFE 2210 aluminium closed up 1.4 per cent or RMB 255 per tonne to RMB 18,505 per tonne, with open interest down 4,477 lots to 162,476 lots.