LME descends after Easter to US$3240/t; SHFE suffers a fall marking US$3402/t

LME aluminium opened at US$3,263 per tonne on Wednesday and closed at US$3,263 per tonne, an increase of US$11 per tonne or 0.34 per cent.

On 20^th April, LME aluminium cash bid price stood at US$3,239 per tonne and LME aluminium official settlement price halted at US$3,240. The former recorded a fall of 2.14 per cent or US$71 per tonne and the latter decreased by US$72 per tonne or 2.17 per cent.

3-month bid price stood at US$3,248 facing a downswing of 2.31 per cent or US$77 and 3-month offer price came in at US$3,250 per tonne falling by US$76 per tonne or 2.28 per cent.  

On the same day, December 23 bid price settled at US$3,095 per tonne and December 23 offer price at US$3,100. The bid price witnessed a decline of 2.46 per cent or US$78 per tonne, the official price too had the same amount subtracted yet saw a 2.45 percentage change.

LME aluminium opening stock continued to decrease from 603,650 tonnes to 592,175 tonnes or by 1.9 per cent as of 20^th April. Live warrants totalled 380,875 tonnes recording 10,050 tonnes less than the previous day. Cancelled warrants read 211,300 tonnes after a cut of 1,425 tonnes.

The LME aluminium 3-month Asian Reference Price fell 2.69 per cent or US$89.83 per tonne to stop at US$3,252.50 per tonne.

SHFE aluminium price 

Today, on 21^st April, the benchmark aluminium price for SHFE has fallen by US$6 per tonne or 0.18 per cent to stand at US$3,402 per tonne if compared with the data collected yesterday.

The most-traded SHFE 2206 aluminium contract opened at RMB 21,710 per tonne overnight and rose to RMB 21,870 per tonne before closing at RMB 21,800 per tonne, flat from the previous day.

The most-traded SHFE 2206 aluminium closed down 1.2 per cent or RMB 265 per tonne to RMB 21,800 yuan per tonne, with open interest down 5,762 lots to 166,900 lots.