LME aluminium price falls for the second day at US$3065.50/t; SHFE stoops down to US$3139/t

LME aluminium opened at US$3,107 per tonne on Thursday and closed at US$3,040 per tonne, down US$76 per tonne or 2.44 per cent.

On 28^th April, LME aluminium cash bid price stood at US$3,065 per tonne, facing a 1.10 per cent or US$34 per tonne decline, while LME aluminium official settlement price halted at US$3,065.50, plunging down 1.11 per cent or US$34.50 per tonne.

3-month bid price stood at US$3,083 per tonne, dropping 1.03 per cent or US$32, and the 3-month offer price came in at US$3,083.50 per tonne, losing US$33.50 per tonne or 1.07 per cent. 

On the same day, December 23 bid price and December 23 offer price settled at US$2,955 per tonne and US$2,960 per tonne, respectively, both with a 1.43 per cent or US$43 per tonne fall.

LME aluminium opening stock continued to decrease by 0.51 per cent or 2,925 tonnes from 574,550 tonnes to 571,625 tonnes as of 28^th April. Live warrants totalled 373,575 tonnes, facing an upward swing of 0.22 per cent or US$825 per tonne. Cancelled warrants read 198,050 tonnes after 3,750 tonnes or 1.86 per cent cut.

The LME aluminium 3-month Asian Reference Price decreased by 0.07 per cent or US$2.32 per tonne to stop at US$3094.18 per tonne.

SHFE aluminium price 

Today, on 29^th April, the benchmark aluminium price for SHFE has fallen by US$34 per tonne or 1.07 per cent to stand at US$3,139 per tonne if compared with the data collected on Wednesday.

The most-traded SHFE 2206 aluminium contract opened at RMB 20,855 per tonne overnight and closed at RMB 20,785 per tonne, down RMB 75 yuan per tonne or 0.36 per cent.

The most-traded SHFE 2206 aluminium closed up 0.99 per cent or RMB 205 per tonne to RMB 20,915 per tonne, with open interest down 8,152 lots to 202,820 lots.

source https://www.alcircle.com/news/lme-aluminium-price-falls-for-the-second-day-at-us3065-50-t-shfe-stoops-down-to-us3139-t-79284