LME slumps for the third day at US$3039/t; SHFE is closed till Wednesday for May Day

On 29^th April, LME aluminium cash bid price stood at US$3,038 per tonne, witnessing a 0.88 per cent or US$27 per tonne decline, while LME aluminium official settlement price halted at US$3,039, diving down by 0.86 per cent or US$26.50 per tonne.

3-month bid price stood at US$3,043 per tonne, dropping 1.30 per cent or US$40 per tonne. The 3-month offer price came in at US$3,044 per tonne, losing US$39.50 per tonne or 1.28 per cent. 

On the same day, December 23 bid price and December 23 offer price settled at US$2,932 per tonne and US$2,937 per tonne, respectively, both with a 0.78 per cent or US$23 per tonne fall.

LME aluminium opening stock continued to decrease by 0.27 per cent or 1,525 tonnes from 571,625 tonnes to 570,100 tonnes as of 29^th April.

Live warrants totalled 375,575 tonnes, facing a rise of 0.53 per cent or 2,000 tonnes. Cancelled warrants read 194,525 tonnes after 3,525 tonnes or 1.78 per cent was reduced.

The LME aluminium 3-month Asian Reference Price shrank by 0.97 per cent or US$30.12 per tonne to stop at US$3,064.06 per tonne.

SHFE aluminium price 

The Shanghai Futures Market will remain closed from the 30^th of April to the 4^th of May, 2022, to honour the workers on May Day. Activities will resume with the market running as usual from Thursday this week.