SHFE aluminium price declines by US$22/t after three days of hike; LME is closed for New Year’s Day

The London Metal Exchange was closed on January 3, 2022 for New Year’s Day. On the previous day, December 31, 2021, LME aluminium cash (bid) price and LME official settlement price closed at US$2,805.50 per tonne and US$2,806 per tonne, respectively, by losing US$23.50 per tonne or by 0.83 per cent. 3-month bid price and 3-month offer price for the same day totalled at US$2,805 per tonne and US$2,810 per tonne.

LME aluminium opening stock came in at 939200 tonnes. Live warrants came in at 709625 tonnes, while Cancelled warrants hovered around 229575 tonnes.

LME aluminium 3-month Asian Reference Price settled at US$2,815.60 per tonne, for the same day.

SHFE Aluminium Price Trend

On Tuesday, January 4, the benchmark aluminium price for SHFE declined by US$22 per tonne to stand at US$3,175 per tonne, following three consecutive days of hike from December 29 to 31. On January 3, 2022, SHFE was closed.

The most-traded SHFE 2202 aluminium contract opened at RMB 20,445 per tonne during last Friday’s night session, with the highest and lowest prices at RMB 20,525 per tonne and RMB 20,330 per tonne before closing at RMB 20,380 per tonne, down RMB 80 per tonne or 0.39 per cent.