LME aluminium opened at US$2,572 per tonne on Tuesday and closed at US$2,648 per tonne, an increase of US$82 per tonne or 3.2 per cent.
On January 31, Tuesday, the LME aluminium cash bid price and the LME aluminium official settlement price plunged by US$43.50 per tonne or 1.69 per cent, settling at US$2,532.50 per tonne and US$2,533.50 per tonne. The LME aluminium price has been on a downward trend from January 26, with a gradual decline throughout the week until the end of the month.
The 3-month bid price dipped by US$39.50 per tonne or 1.51 per cent, officially resting at US$2,573.50 per tonne, and the 3-month offer price saw a decrease of US$41 per tonne or 1.57 per cent to halt at US$2,574 per tonne.
December 24 bid price and December 24 offer price anchored at US$2,740 per tonne and US$2,745 per tonne on Tuesday, with a similar price slash of US$25 per tonne or 0.9 per cent.
LME aluminium opening stock witnessed an inventory decline of 4,325 tonnes or 1.05 per cent to settle at 407,325 tonnes from 411,650 tonnes recorded on Monday.
Live warrants totalled 231,125 tonnes showing no change at all. Cancelled warrants read 176,200 tonnes, with 4,325 tonnes or a 2.39 per cent fall.
The 3-month Asian Reference Price came in at US$2,569.06 per tonne after plummeting by US$67.94 per tonne or 1.58 per cent.
SHFE aluminium price
On February 1, today, the SHFE aluminium benchmark price has stopped at US$2,831 per tonne, with a marked levitation of US$44 per tonne or 1.58 per cent.
The most-traded SHFE 2303 aluminium contract opened at RMB 18,980 per tonne overnight before closing at RMB 19,130 per tonne, up RMB 205 per tonne or 1.08 per cent.
The most-traded SHFE 2303 aluminium closed down 0.76 per cent or RMB 145 per tonne at RMB 18,925 per tonne, with open interest up 893 lots to 195,165 lots.
source https://www.alcircle.com/news/lme-benchmark-aluminium-price-slumps-by-us43-5-t-to-us2533-5-t-shfe-soars-us44-t-up-89838
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