LME benchmark aluminium price tumbles down to US$2390/t with US$63.5/t loss; SHFE also sheds US$19/t

LME aluminium opened at US$2,468 per tonne on Monday, with its high and low at US$2,468 per tonne and US$2,402 per tonne respectively before closing at US$2,411 per tonne, a drop of US$59 per tonne or 2.39 per cent.

On December 12, Monday, LME aluminium cash bid price and the LME aluminium official settlement price both downsized by US$63.50 per tonne or 2.59 per cent, beginning the week at US$2,389.50 per tonne and US$2,390 per tonne, respectively.

The 3-month bid price saw a decline of US$59.50 per tonne or 2.39 per cent, settling at US$2,428 per tonne, while the 3-month offer price had a price slump of US$58 per tonne or 2.33 per cent, resting at US$2,430 per tonne.

December 23 bid price and December 23 offer price both plunged US$53 per tonne or 2.07 per cent, stopping at US$2,500 per tonne and US$2,505 per tonne, respectively.

LME aluminium opening stock experienced a huge spike of 30,100 tonnes or 6.38 per cent to settle at 501,675 tonnes from 471,575 tonnes recorded the previous week.   

Live warrants totalled 261,350 tonnes, witnessing a 37,350 tonnes or 16.67 per cent surge. Cancelled warrants read 240,325 tonnes, going down by 7,250 tonnes or 2.93 per cent.  

LME aluminium 3-month Asian Reference Price came in at US$2,451 per tonne after a fall of US$63.45 per tonne or 2.52 per cent.

SHFE aluminium price 

Today, on December 7, the SHFE benchmark aluminium price has dived down by US$19 per tonne or 0.7 per cent, closing at US$2,709 per tonne.

The most-traded SHFE 2301 aluminium contract opened at RMB 18,720 per tonne overnight, with its high and low at RMB 18,750 per tonne and RMB 18,575 per tonne before closing down RMB 310 per tonne or 1.64 per cent.

The most-traded SHFE 2301 aluminium closed down 2.32 per cent or RMB 445 per tonne at RMB 18,775 per tonne, with open interest down 30,432 lots to 173,131 lots.