LME tumbles down to US$ 3234.50/t; SHFE suffers fall stopping at US$ 3,276/t

LME aluminium opened at US$3,361 per tonne on Monday and closed at US$3,251.5 per tonne, down US$120.5 per tonne or 3.57 per cent.

LME aluminium cash bid price halted at US$3,233.50 per tonne and LME aluminium official settlement price stopped at US$3,234.50 per tonne, with a downfall of 4.7 per cent and 4.72 per cent respectively, if compared with the records of Friday, last week.

The 3-month bid price of aluminium also decreased by US$172 per tonne or 5.02 per cent to rest at US$3,249 per tonne. On the other hand, 3-month offer price faced the same percentage cut resting at US$3,251 per tonne.

From Monday’s LME official price chart, December 23 bid price stood at US$3,110 per tonne and December23 offer price at US$3,115, both witnessing a downward swing of 5.6 per cent or US$185.

LME aluminium opening stock continued to decrease from 615,750 tonnes to 609,850 tonnes or 0.96 per cent as recorded on 11th April. Live warrants totalled 395,450 tonnes recording no change but Cancelled warrants fell by 5900 tonnes or 2.68 per cent resting at 214,400 tonnes.

The LME aluminium 3-month Asian Reference Price dropped by 3.18 per cent or US$108.16 to stop at US$3,293.34 per tonne.

SHFE aluminium price 

On Tuesday, April 12th, the benchmark aluminium price for SHFE has declined by US$86 per tonne or 2.44 per cent to stand at US$3,276 per tonne.

 The most-traded SHFE 2205 aluminium contract opened at RMB 20,975 per tonne overnight and rose to RMB 21,010 per tonne before closing at RMB 20,670 per tonne, down RMB 660 per tonne or 3.09 per cent.

The most-traded SHFE 2205 aluminium closed down 3.62 per tonne or RBM 790 per tonne to RMB 21,005 per tonne, with open interest up 3,300 lots to 189,716 lots.