LME aluminium benchmark price drops by US$23/t to US$2,330/t; SHFE price grows to US$2,682/t

LME aluminium opened at US$2,355 per tonne on Wednesday. With its low and high at US$2,316.5 per tonne and US$2,360 per tonne before closing at US$2,322.5 per tonne, a drop of US$33 per tonne or 1.4 per cent.

On Wednesday, May 3, both LME aluminium cash bid price and LME aluminium official settlement price descended by US$23.5 per tonne or 0.99 per cent and US$23 per tonne or 0.97 per cent to halt at US$2,329 per tonne and US$2,330 per tonne.

3-month bid price and 3-month offer price dipped by US$11 per tonne or 0.46 per cent and US$12 per tonne or 0.50 per cent to settle at US$2,342 per tonne and US$2,343 per tonne.

December 24 bid price and December 24 offer price moved down by US$5 per tonne or 0.19 per cent to peg at US$2,518 per tonne and US$2,523 per tonne.

LME aluminium opening stock came in at 565200 tonnes. Live warrants and Cancelled warrants settled at 493400 tonnes and 71800 tonnes.

LME aluminium 3-month Asian Reference Price fell by US$13.11 per tonne or 0.55 per cent to clock at US$2,351.96 per tonne.

SHFE aluminium price

On May 4, the SHFE aluminium benchmark price opened after the holiday with growth of US$12 per tonne or 0.44 per cent to US$2,682 per tonne.

At last Friday’s night session, the most-traded SHFE 2306 aluminium contract opened at RMB 18,485 per tonne, with the highest and lowest prices at RMB 18,515 per tonne and RMB 18,405 per tonne before closing at RMB 18,470 per tonne, up RMB 5 per tonne or 0.03 per cent.