LME benchmark price slumps US$38/t at the week’s start; SHFE aluminium price sheds US$16/t

LME aluminium opened at US$2,288 per tonne on Monday, with its low and high at US$2,249.5 per tonne and US$2,289.5 per tonne respectively before closing at US$2,263.5 per tonne, a drop of US$20.5 per tonne or 0.9 per cent.

On May 22, Monday, the LME aluminium cash bid price closed at US$2,261 per tonne, with a fall of US$37 per tonne or 1.61 per cent and the LME aluminium official settlement price halted at US$2,262 per tonne, decreasing by US$38 per tonne or 1.65 per cent. 

The 3-month bid price stopped at US$2,260 per tonne, with a slump of US$35 per tonne or 1.52 per cent and the 3-month offer price declined by the same number, anchoring at US$2,262 per tonne.

December 24 bid price and December 24 offer price both have shed US$30 per tonne or 1.22 per cent, officially closing at US$2,418 per tonne and US$2,423 per tonne, respectively.

LME aluminium opening stock witnessed a fall of 0.04 per cent, officially closing at 555,000 tonnes, declining 200 tonnes from the day before.

Live warrants totalled 375,175 tonnes, with no recordable change at all. Cancelled warrants read 179,825 tonnes, with 200 tonnes or 0.11 per cent being subtracted.

The 3-month Asian Reference Price came in at US$2,257.71 per tonne after shedding US$26.83 per tonne or 1.17 per cent.

SHFE aluminium price

On May 23, today, SHFE aluminium price has plunged by US$16 per tonne or 0.61 per cent, officially closing at US$2,587 per tonne.

The most-traded SHFE 2306 aluminium contract opened at RMB 18,220 per tonne overnight, with its low and high at RMB 18,110 per tonne and RMB 18,250 per tonne before closing at RMB 18,230 per tonne, up RMB 40 per tonne or 0.22 per cent.

SHFE 2307 aluminium lost RMB 225 per tonne or 1.23 per cent to RMB 18,005 per tonne. The open interest rose from 27,108 lots to 214,713 lots.