LME benchmark aluminium price subsides by US$13/t to US$2259/t; SHFE drops US$16/t

LME aluminium opened at US$2,312.5 per tonne on Friday and closed at US$2,283 per tonne, down US$21 per tonne or 1.38 per cent.

LME aluminium cash bid price dropped by US$14 per tonne or 0.62 per cent to settle at US$2,257 per tonne and LME aluminium official settlement price slipped by US$13 per tonne or 0.57 per cent to rest at US$2,259 per tonne on Friday, September 16.   

3-month bid price descended by 0.66 per cent or US$15 per tonne to stand at US$2,266 per tonne, while the 3-month offer price witnessed a similar fall in percentage, closing at US$2,267 per tonne. 

December 23 bid price and December 23 offer price both lost 0.59 per cent or US$14 per tonne stopping at US$2,358 per tonne and US$2,363 per tonne, respectively.

LME aluminium opening stock continued to decrease by 0.57 per cent or 2,000 tonnes, from 349,650 tonnes to 347,650 tonnes as of September 16.

Live warrants totalled 278,825 tonnes, showing no alteration at all.

Cancelled warrants read 68,825 tonnes, shedding 2.82 per cent or 2,000 tonnes from the day before.

LME aluminium 3-month Asian Reference Price came in at US$2,278.61 per tonne, after 0.98 per cent or US$22.57 per tonne got reduced.

SHFE aluminium price 

Today, on September 19, the SHFE benchmark aluminium price has dwindled down by US$16 per tonne or 0.59 per cent to arrive at US$2,691 per tonne, if compared with the data of last week.

The most-traded SHFE 2210 aluminium contract opened at RMB 18,790 per tonne at last Friday’s night session and rose to RMB 19,020 per tonne before closing at RMB 18,945 per tonne, up RMB 210 per tonne or 1.12 per cent.

The most-traded SHFE 2210 aluminium closed up 0.21 per cent or RMB 40 per tonne to RMB 18,735 per tonne, with open interest down 2,523 lots to 173,581 lots.