LME benchmark aluminium price slumps by 1.3% to US$2197; SHFE also loses US$21/t

LME aluminium opened at US$2,230.5 per tonne Monday, with its high and low at US$2,241 per tonne and US$2,188.5 per tonne respectively before closing at US$2,225.5 per tonne, a drop of US$8.5 per tonne or 0.38 per cent.

On October 31, Monday LME aluminium cash bid price dropped by US$29.50 per tonne or 1.32 per cent to halt at US$2,196 per tonne, and the LME aluminium official settlement price also declined by US$29 per tonne or 1.3 per cent to rest at US$2,197 per tonne.  

The 3-month bid price decreased by US$30.50 per tonne or 1.36 per cent to close at US$2,205 per tonne and the 3-month offer price slumped by US$29 per tonne or 1.3 per cent to close at US$2,207 per tonne.   

December 23 bid price and December 23 offer price recorded a US$35 per tonne or 1.51 per cent fall, stopping at US$2,280 per tonne and US$2,285 per tonne.

LME aluminium opening stock dived down by 1,200 tonnes to settle at 586,225 tonnes from 587,425 tonnes recorded the week before on Friday.

Live warrants totalled 351,200 tonnes, rising up 0.01 per cent or 50 tonnes. 

Cancelled warrants read 235,025 tonnes, with a slump of 1,250 tonnes or 0.53 per cent.  

LME aluminium 3-month Asian Reference Price came in at US$2193.67 per tonne after losing US$54.42 per tonne or 2.42 per cent.

SHFE aluminium price 

But today, on November 1, the SHFE benchmark aluminium price has lost US$21 per tonne or 0.85 per cent to rest at US$2,454 per tonne.

The most-traded SHFE 2212 aluminium contract opened at RMB 17,535 per tonne overnight, with its low and high at RMB 17,425 per tonne and RMB 17,680 per tonne before closing at RMB 17,630 per tonne, up RMB 95 per tonne or 0.54 per cent.

The most-traded SHFE 2212 aluminium closed down 4.23 per cent or RMB 775 per tonne to RMB 17,535 per tonne, with open interest up 27,454 lots to 192,400 lots.