LME aluminium benchmark price dwindles by US$69/t; SHFE price drops to US$2,780/t

LME aluminium opened at US$2,661.5 per tonne yesterday, with its high and low at US$2,669.5 per tonne and US$2,562.5 per tonne, respectively, before closing at US$2,576 per tonne, down US$82 per tonne or 3.09 per cent.

On Tuesday, April 23, both LME aluminium cash bid price and LME aluminium official settlement price nosedived by US$70 per tonne and US$69 per tonne to clock at US$2,583 per tonne and US$2,585 per tonne.

As per the data, both 3-month bid price and 3-month offer price dwindled by US$75 per tonne or 2.81 per cent to settle at US$2,585 per tonne and US$2,585.50 per tonne. December 25 bid price and December 25 offer price contracted by US$42 per tonne to halt at US$2,683 per tonne and US$2,688 per tonne.

LME aluminium opening stock came in at 497300 tonnes. Live warrants and Cancelled warrants stood at 152000 tonnes and 345300 tonnes. LME aluminium 3-month Asian Reference Price slumped by US$32.67 per tonne or 1.22 per cent to rest at US$2,628.30 per tonne.

SHFE aluminium price

The Shanghai Futures Exchange (SHFE) aluminium benchmark price today (Wednesday, April 24) has lost US$30 per tonne or 1.06 per cent to peg at US$2,780 per tonne. Overnight, the most-traded SHFE 2406 aluminium contract opened at RMB 20,000 per tonne, with high and low at RMB 20,175 per tonne and RMB 19,960 per tonne before closing at RMB 20,125 per tonne, down RMB 250 per tonne or 1.23 per cent.