LME aluminium benchmark price drops to US$2,560/t; SHFE price falls by US$38/t

LME aluminium fell to around US$2,570 per tonne after opening at US$2,607 per tonne last Friday and closed at US$2,566 per tonne, down 1.48 per cent.

On Friday, February 3, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$14 per tonne or 0.54 per cent and US$12.5 per tonne or 0.48 per cent to stand at US$2,558 per tonne and US$2,560 per tonne.

3-month bid price and 3-month offer price slipped by US$14 per tonne or 0.53 per cent and US$15 per tonne or 0.57 per cent to peg at US$2,593 per tonne and US$2,594 per tonne.

December 24 bid price and December 24 offer price dipped by US$13 per tonne or 0.46 per cent to score at US$2,755 per tonne and US$2,760 per tonne.

LME aluminium opening stock settled at 395250 tonnes. Live warrants and Cancelled warrants closed at 225900 tonnes and 169350 tonnes.

LME aluminium 3-month Asian Reference Price declined by US$31.33 per tonne or 1.18 per cent to reside at US$2,602.79 per tonne.

SHFE aluminium price

Today, on February 6, the SHFE aluminium benchmark price has settled at US$2,779 per tonne after recording a drop of US$38 per tonne or 1.34 per cent.

The most-traded SHFE 2303 aluminium closed down 0.13 per cent or RMB 25 per tonne at RMB 19,095 per tonne, with open interest down 6,020 lots to 190,614 lots.

The most-traded SHFE 2303 aluminium contract opened at RMB 19,080 per tonne at last Friday’s night session and moved around RMB 19,000 per tonne before closing at RMB 19,015 per tonne, down 0.42 per cent.