LME benchmark aluminium price slips by US$20/t; SHFE gains US$2/t after Christmas week

LME aluminium opened at US$2,391.5 per tonne last Monday, with its high and low at US$2,410 per tonne and US$2,363 per tonne respectively before closing at US$2,395.5 per tonne, an increase of US$3.5 per tonne or 0.15 per cent.

On December 23, Friday, LME aluminium cash bid price slumped by US$19.50 per tonne or 0.82 per cent, closing at US$2,341.50 per tonne and the LME aluminium official settlement price dropped by US$20 per tonne or 0.85 per cent to rest at US$2,342 per tonne.

The 3-month bid price and the 3-month offer price experienced a downfall of US$24 per tonne or 1 per cent to close pre-holidays at US$2,371 per tonne and US$2,373 per tonne, respectively.

December 23 bid price and December 23 offer price both witnessed a similar plunge of US$23 per tonne or 0.92 per cent, stopping at US$2,457 per tonne and US$2,462 per tonne.

LME aluminium opening stock dived down by 6,400 tonnes or 1.35 per cent to settle at 466,600 tonnes from 473,000 tonnes recorded on Thursday.   

Live warrants totalled 227,225 tonnes, after shedding 6,075 tonnes or 2.6 per cent. Cancelled warrants read 239,375 tonnes, with a loss of 325 tonnes or 0.13 per cent.  

Only, the 3-month Asian Reference Price came in at US$2,407.75 per tonne after a surge of US$13.75 per tonne or 0.57 per cent.

SHFE aluminium price 

Today, on December 26, the SHFE benchmark aluminium price has squared at US$2,666 per tonne, with a slight hike of 0.07 per cent or US$2 per tonne, after the Christmas weekend.

The most-traded the night SHFE 2301 aluminium contract opened at RMB 18,615 per tonne at last Friday’s night session, with its high and low at RMB 18,730 per tonne and RMB 18,605 per tonne before closing at RMB 18,690 per tonne, up RMB 10 per tonne or 0.05 per cent.

The most-traded SHFE 2301 aluminium closed down 0.03 per cent or RMB 5 per tonne at RMB 18,680 per tonne, with open interest down 11,935 lots to 94,488 lots.