LME aluminium opened at US$2,885 per tonne on Tuesday and closed at US$2,789 per tonne, experiencing a sharp downfall of $91 per tonne or 3.16 per cent.
On Tuesday, May 31, LME aluminium cash bid price witnessed a plunge of US$46 per tonne, while LME aluminium official settlement price slumped by US$46.50 per tonne. That brought the prices to US$2,816 per tonne and US$2,816.50 per tonne, respectively, for the day.
3-month bid price and 3-month offer price also saw a considerable downfall of US$42 per tonne and US$41 per tonne to come in at US$2,848 per tonne and US$2,850 per tonne. December 23 bid price and December 23 offer price experienced a fall of US$40 per tonne to US$2,805 per tonne and US$2,810 per tonne, respectively.
LME aluminium opening stock further declined to 458875 tonnes on May 31. Live Warrants and Cancelled Warrants stood at 191500 tonnes and 267375 tonnes.
3-month Asian reference price closed the day at US$2,891.17 per tonne.
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SHFE aluminium price
On Wednesday, June 1, the benchmark aluminium price for SHFE has plummeted by US$99 per tonne or 3.18 per cent to settle at US$3,016 per tonne.
The most-traded SHFE 2207 aluminium closed up 0.24 per cent or RMB 50 per tonne to stand at RMB 20,795 per tonne, with open interest up 317 lots to 182,704 lots.
Overnight, the most-traded SHFE 2207 aluminium contract opened at RMB 22,650 per tonne, with its low and high at RMB 20,290 per tonne and RMB 22,695 per tonne before closing at RMB 20,335 per tonne, down RMB 460 per tonne or 2.21 per cent.
source https://www.alcircle.com/news/lme-aluminium-benchmark-price-slumps-by-us46-5-t-shfe-plummets-by-3-to-us3016-t-80573
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