LME benchmark aluminium price slumps by US$66/t to US$2272/t; SHFE also loses US$64/t

LME aluminium opened at US$2,333.5 per tonne on Thursday, with its high and low at US$2,335 per tonne and US$2,317.5 per tonne respectively before closing at US$2,323 per tonne, a decrease of US$10.5 per tonne or 0.45 per cent.

On November 10, Thursday, LME aluminium cash bid price and LME aluminium official settlement price both plunged by US$66 per tonne or 2.82 per cent to halt at US$2,271.50 per tonne, and US$2,272 per tonne, respectively.

The 3-month bid price has gone down by US$71 per tonne or 3.02 per cent to settle at US$2,283 per tonne and the 3-month offer price downsized by US$70 per tonne or 2.97 per cent to close at US$2,285 per tonne.   

December 23 bid price and December 23 offer price recorded a fall of US$67 per tonne or 2.8 per cent, stopping at US$2,353 per tonne and US$2,358 per tonne, respectively. 

LME aluminium opening stock plummeted by 6,225 tonnes or 1.11 per cent to settle at 552,600 tonnes from 558,825 tonnes recorded the previous day.  

Live warrants totalled 318,325 tonnes, going down by 0.34 per cent or 1,075 tonnes. Cancelled warrants read 234,275 tonnes, with a fall of 5,150 tonnes or 2.15 per cent.  

LME aluminium 3-month Asian Reference Price came in at US$2,326 per tonne after losing US$62.50 per tonne or 2.62 per cent.

SHFE aluminium price 

Today, on November 11, the SHFE benchmark aluminium price has dipped by US$64 per tonne or 2.5 per cent to rest at US$2,621 per tonne.

The most-traded SHFE 2212 aluminium contract opened at RMB 18,490 per tonne overnight, with its low and high at RMB 18,475 per tonne and RMB 18,945 per tonne before closing at RMB 18,695 per tonne, up RMB 105 per tonne or 0.56 per cent.

The most-traded SHFE 2212 aluminium closed up 0.38 per cent or RMB 70 per tonne at RMB 18,590 per tonne, with open interest up 447 lots to 165,139 lots.