LME aluminium benchmark price contracts by US$20/t to US$2,235.5/t; SHFE price loses US$20/t

LME aluminium opened at US$2,304 per tonne yesterday, with high and low at US$2,316.5 per tonne and US$2,269 per tonne, respectively, before closing at US$2,285 per tonne, a decrease of US$21 per tonne or 0.91 per cent.

On Thursday, January 4, aluminium prices experienced a decline as worries regarding raw material supply alleviated, and investor confidence in the likelihood of imminent interest rate cuts diminished. As per the data, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$20 per tonne or 0.88 per cent to settle at US$2,235 per tonne and US$2,235.50 per tonne.

As per the London Metal Exchange (LME) data, 3-month bid price and 3-month offer price slumped by US$15 per tonne or 0.65 per cent to clock at US$2,286 per tonne and US$2,287 per tonne. December 25 bid price moved down by US$2 per tonne or 0.07 per cent to halt at US$2,530 per tonne. On the same day, December 25 offer price skyrocketed by US$233 per tonne or 10.12 per cent to settle at US$2,535 per tonne.

LME aluminium opening stock came in at 561575 tonnes. Live warrants and Cancelled warrants settled at 374650 tonnes and 186925 tonnes. LME aluminium 3-month Asian Reference Price lost US$24.88 per tonne or 1.07 per cent to reside at US$2,292.95 per tonne.

SHFE aluminium price 

On January 5, the SHFE aluminium price has contracted by US$20 per tonne or 0.73 per cent to come in at US$2,697 per tonne. Overnight, the most-traded SHFE 2402 aluminium contract opened at RMB 19,330 per tonne, with low and high at RMB 19,260 per tonne and RMB 19,350 per tonne before closing at RMB 19,350 per tonne, up RMB 10 per tonne or 0.05 per cent.