LME aluminium opened at US$2,398 per tonne last Friday and closed at US$2,393.5 per tonne, down US$6 per tonne or 0.25 per cent.
On March 3, Friday, the LME aluminium cash bid price stooped down by US$4.50 per tonne or 0.19 per cent to close at US$2,361 per tonne and the LME aluminium official settlement price shed US$5 per tonne or 0.21 per cent to stop at US$2,361.50 per tonne. Though the European market is under a lot of pressure due to the spiked prices, the Chinese authority is keen on handling the issue with much finesse.
The 3-month bid price plunged by US$7 per tonne or 0.29 per cent to halt at US$2,403 per tonne and the 3-month offer price witnessed a similar price loss, officially closing at US$2,404 per tonne.
December 24 bid price and December 24 offer price have remained unaltered at US$2,605 per tonne and US$2,610 per tonne on Friday, as was recorded the day before.
LME aluminium opening stock marked a massive inventory influx of 17,875 tonnes or 3.27 per cent to settle at 564,700 tonnes.
Live warrants totalled 455,425 tonnes, accumulating almost 16,675 tonnes or 3.8 per cent. Cancelled warrants read 109,275 tonnes, with 1,200 tonnes or a 1.11 per cent hike.
The 3-month Asian Reference Price came in at US$2,418.50 per tonne after shedding US$8.79 per tonne or 0.36 per cent.
SHFE aluminium price
On March 6, today, the SHFE aluminium benchmark price has stopped at US$2,695 per tonne, experiencing a decrease of US$3 per tonne or 0.11 per cent.
The most-traded SHFE 2304 aluminium contract opened at RMB 18,775 per tonne at last Friday’s night session before closing at RMB 18,680 per tonne, up RMB 25 per tonne or 0.13 per cent.
The most-traded SHFE 2304 aluminium closed up 0.59 per cent or RMB 110 per tonne at RMB 18,775 per tonne, with open interest up 139 lots to 195,843 lots.
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