LME aluminium benchmark price declines by US$40.5/t; SHFE price drops to US$2870/t

The previous trading day, LME aluminium opened at US$2,575.5 per tonne, reached a high of US$2,589 per tonne, a low of US$2,529 per tonne, and closed at US$2,544 per tonne, down US$38 per tonne, a drop of 1.47 per cent.

On Tuesday, June 11, both LME aluminium cash bid price and LME aluminium official settlement price declined by US$40 per tonne or 1.59 per cent and US$40.5 per tonne or 1.61 per cent to clock at US$2,474.50 per tonne and US$2,475 per tonne.

3-month bid price and 3-month offer price also slumped by US$41 per tonne or 1.59 per cent to dock at US$2,533 per tonne and US$2,534 per tonne. December 25 bid price and December 25 offer price dropped by US$25 per tonne or 0.93 per cent to settle at US$2,658 per tonne and US$2,663 per tonne.

LME aluminium opening stock came in at 1096250 tonnes. Live warrants and Cancelled warrants settled at 577300 tonnes and 518950 tonnes. LME aluminium 3-month Asian Reference Price dipped by US$8.81 per tonne or 0.34 per cent to reside at US$2,568.41 per tonne.

SHFE aluminium price

On Wednesday, June 12, SHFE aluminium benchmark price decreased by US$8 per tonne or 0.27 per cent to halt at US$2,870 per tonne. The most-traded SHFE 2407 aluminium contract opened at RMB 20,820 per tonne, reaching a high of RMB 20,900 per tonne and a low of RMB 20,730 per tonne, and closed at RMB 20,800 per tonne, down RMB 105 per tonne, a drop of 0.5 per cent.