LME aluminium benchmark price closed the week at US$51/t lower; SHFE price slid US$100/t to US$3139/t

LME aluminium prices further shrank this week, with LME aluminium cash bid price and LME aluminium official settlement price starting at US$3,089 per tonne and US$3,090 per tonne on Monday, April 25, and ending at US$3,038 per tonne and US$3,039 per tonne on Friday, April 29. That was a decline of US$51 per tonne through the week.

After facing nosedive by US$154.50 per tonne and US$154 per tonne on Monday, LME aluminium cash bid price and LME aluminium official settlement price increased by US$13 per tonne and US$12.50 per tonne on Tuesday, April 26, to come in at US$3,102 per tonne and US$3,102.50 per tonne. But on the next day, the prices slipped by US$3 per tonne and US$2.50 per tonne to stand at US$3,099 per tonne and US$3,100 per tonne. On Thursday, April 28, both the LME aluminium cash bid price and LME aluminium official settlement price plunged by US$34 per tonne and US$34.50 per tonne to rest at US$3,065 per tonne and US$3,065.50 per tonne, before closing the week further lower by 0.9 per cent.

3-month bid price and 3-month offer price also recorded steep decline of US$60 per tonne and U$61 per tonne through the week from US$3,103 per tonne to US$3,043 per tonne and from US$3,105 per tonne to US$3,044 per tonne, respectively. December 23 bid price and December 23 offer price plunged from US$2,965 per tonne on April 25 to US$2,932 per tonne on April 29 and from US$2,970 per tonne to US$2,937 per tonne.

LME aluminium opening stock declined from 584,050 tonnes to 570,100 tonnes.

SHFE aluminium price 

The benchmark aluminium price for SHFE started the week on April 25 with a plunge of US$145 per tonne to US$3,239 per tonne, which further fell by US$68 per tonne to US$3,171 per tonne on April 26. On Wednesday, April 27, the price continued to fall to come in at US$3,168 per tonne but increased the next day by US$5 per tonne to US$3,173 per tonne. On Friday, April 29, the SHFE price closed the week at US$3,139 per tonne, plummeting by US$34 per tonne. Throughout the week, the SHFE aluminium price shrank by US$100 per tonne.