LME aluminium price drops again at US$3100/t; SHFE grows to US$3173/t after six days of decline

LME aluminium opened at US$3,071.5 per tonne on Wednesday and closed at US$3,116 per tonne, an increase of US$36 per tonne or 1.17 per cent.

On 27^th April, the LME aluminium cash bid price stood at US$3,099 per tonne, with a 0.10 per cent or US$3 per tonne decline. LME aluminium official settlement price halted at US$3,100 per tonne, falling 0.08 per cent or US$2.5 per tonne.

3-month bid price stopped at US$3,115 per tonne, losing 0.06 per cent or US$2 per tonne. The 3-month offer price came in at US$3,117 per tonne, dropping US$1 per tonne or 0.03 per cent.

On the same day, December 23 bid price and December 23 offer price settled at US$2,998 per tonne and US$3,003 per tonne, respectively, both with a 0.27 per cent or US$8 per tonne hike.

LME aluminium opening stock continued to decrease by 0.87 per cent or 5,050 tonnes from 579,600 tonnes to 574,550 tonnes as of 27^th April. Live warrants totalled 372,750 tonnes showing no change. Cancelled warrants read 201,800 tonnes after 5,050 tonnes or 2.44 per cent cut.

The LME aluminium 3-month Asian Reference Price decreased by 0.57 per cent or US$17.89 per tonne to stop at US$3,096.50 per tonne.

SHFE aluminium price 

Today, on 28^th April, the benchmark aluminium price for SHFE has risen by US$5 per tonne or 0.16 per cent to stand at US$3,173 per tonne if compared with data collected on Wednesday.

Overnight, the most-traded SHFE 2206 aluminium contract opened at RMB 20,800 per tonne, with the highest at RMB 20,870 per tonne before closing at RMB 20,820 per tonne, up RMB 55 yuan per tonne or 0.26 per cent.

The most-traded SHFE 2206 aluminium closed up 0.51 per cent or RMB 105 per tonne to RMB 20,765 per tonne, with open interest down 187 lots to 210,972 lots.

source https://www.alcircle.com/news/lme-aluminium-price-drops-again-at-us3100-t-shfe-grows-to-us3173-t-after-six-days-of-decline-79272