LME benchmark aluminium price subsides by US$42/t to US$2354/t; SHFE aluminium price sheds US$4/t

LME aluminium opened at US$2,390 per tonne last Friday, with its high and low at US$2,421 per tonne and US$2,372 per tonne, respectively before closing at US$2,379 per tonne, a drop of US$7 per tonne or 0.29 per cent.

On December 16, Friday, LME aluminium cash bid price and the LME aluminium official settlement price trickled down by US$42 per tonne or 1.75 per cent, closing at US$2,353 per tonne and US$2,354 per tonne, respectively.

The 3-month bid price and the 3-month offer price had an equivalent slump of US$32 per tonne or 1.32 per cent to halt at US$2,396 per tonne and US$2,398 per tonne.

December 23 bid price and December 23 offer price both witnessed a similar fall of US$32 per tonne or 1.27 per cent, stopping at US$2,480 per tonne and US$2,485 per tonne, respectively.

LME aluminium opening stock experienced a substantial drop of 6,200 tonnes or 1.28 per cent to settle at 477,650 tonnes from 483,850 tonnes recorded on Thursday.   

Live warrants totalled 261,450 tonnes, with a plunge of 750 tonnes. Cancelled warrants read 216,200 tonnes, plummeting 5,450 tonnes or 2.46 per cent.  

LME aluminium 3-month Asian Reference Price came in at US$2,407.70 per tonne after a decline of US$35.78 per tonne or 1.46 per cent.

SHFE aluminium price 

Today, on December 19, the SHFE benchmark aluminium price has downsized by US$4 per tonne or 0.15 per cent, closing at US$2,677 per tonne.

The most-traded the night SHFE 2301 aluminium contract opened at RMB 18,755 per tonne at last Friday’s night session, with its high and low at RMB 18,820 per tonne and RMB 18,645 per tonne before closing at RMB 18,685 per tonne, down RMB 60 per tonne, or 0.32 per cent.

The most-traded SHFE 2301 aluminium closed down 0.24 per cent or RMB 45 per tonne at RMB 18,740 per tonne, with open interest down 7,505 lots to 140,136 lots.