LME suffers first fall after five days of steep rise to US$3583/t; SHFE falls by 0.55% to rest at US$3599/t

LME aluminium opened at US$3,575 per tonne last Friday and closed at US$3,625 per tonne, an increase of US$55 per tonne or 1.54 per cent.

If compared with the records of the exact previous day, LME aluminium cash bid price stood at US$3,582 per tonne and LME aluminium official settlement price halted at US$3,583. Both recorded a fall of 2.21 per cent or US$81 per tonne.

3-month bid price and 3-month offer price decreased by US$85 per tonne or 2.21 per cent to rest at US$3,590 per tonne and US$3,590.50 per tonne.

On the same day, December 23 bid price stood at US$3,380 per tonne and December23 offer price at US$3,385, both witnessing a downfall of 0.53 per cent.

LME aluminium opening stock continued to decrease from 684,250 tonnes to 678,100 tonnes as of 25^th of March. Live warrants totalled 438,900 tonnes recording a rise of 1,800 tonnes and Cancelled warrants declined by 7,750 tonnes resting at 239,200 tonnes.

The LME aluminium 3-month Asian Reference Price faced a downward slope of 2.49 per cent to stop at US$3,586.87 per tonne.

SHFE aluminium price 

On Monday, March 28th, the benchmark aluminium price for SHFE has fallen by US$20 per tonne or 0.55 per cent to stand at US$3,599 per tonne.

During last Friday’s night session, the most-traded SHFE 2205 aluminium contract opened at RMB 23,150 per tonne, with the highest and lowest prices at RMB 23,150 per tonne and RMB 22,935 per tonne before closing at RMB 23,125 per tonne, up RMB 35 per tonne or 0.15 per cent.

The most-traded SHFE 2205 aluminium closed down 0.82 per cent or RMB 190 per tonne to RMB 23,090 per tonne, with open interest up 352 lots to 242,986 lots.

source https://www.alcircle.com/news/lme-suffers-first-fall-after-five-days-of-steep-rise-to-us3583-t-shfe-falls-by-0-55-to-rest-at-us3599-t-77946