LME aluminium benchmark price contracts by US$23.5/t to US$2,192/t; SHFE price drops to US$2,659/t

LME aluminium opened at US$2,272 per tonne yesterday, with its high and low at US$2,279 per tonne and US$2,237.5 per tonne, respectively, before closing at US$2,245.5 per tonne, down US$19.5 per tonne or 0.86 per cent compared to the previous day.

On Wednesday, December 20, both LME aluminium cash bid price and LME aluminium official settlement price contracted by US$23.5 per tonne or 1.06 per cent to clock at US$2,191.50 per tonne and US$2,192 per tonne.

As per the London Metal Exchange (LME) data, 3-month bid price and 3-month offer price slumped by US$29 per tonne or 1.27 per cent to reside at US$2,243 per tonne and US$2,243.50 per tonne. December 24 bid price and December 24 offer price fell by US$23 per tonne or 0.96 per cent to clock at US$2,360 per tonne and US$2,365 per tonne.

LME aluminium opening stock came in at 509800 tonnes. Live warrants and Cancelled warrants settled at 283375 tonnes and 226425 tonnes. LME aluminium 3-month Asian Reference Price ascended by US$5.91 per tonne or 0.26 per cent to peg at US$2,274.41 per tonne.

SHFE aluminium price

On Thursday, December 21, the Shanghai Futures Exchange (SHFE) aluminium price dipped by US$10 per tonne or 0.37 per cent to reach US$2,659 per tonne. The most-traded SHFE 2401 aluminium contract opened at RMB 19,000 per tonne overnight, with its low and high at RMB 18,920 per tonne and RMB 19,000 per tonne before closing at RMB 18,945 per tonne, down RMB 100 per tonne or 0.53 per cent.