LME aluminium benchmark price slips to US$2,200.50/t; SHFE price moves down by US$6/t

LME aluminium opened at US$2,245 per tonne on Tuesday, with its high and low at US$2,258 per tonne and US$2,178 per tonne, respectively, before closing at US$2,180 per tonne, a drop of US$64 per tonne or 2.85 per cent. Growing inventory and weak demand sent LME aluminium lower.

On Tuesday, October 18, both LME aluminium cash bid price and LME aluminium official settlement price closed at US$2,200 per tonne and US$2,200.50 per tonne, after experiencing a cut of US$39 per tonne or 1.74 per cent and US$39.5 per tonne or 1.76 per tonne.

3-month bid price and 3-month offer price slumped by US$24 per tonne or 1.07 per cent to halt at US$2,216 per tonne and US$2,216.50 per tonne. December 23 bid price and December 23 offer price dipped by US$17 per tonne or 0.73 per cent to reside at US$2,300 per tonne and US$2,305 per tonne.

LME aluminium opening stock settled at 481375 tonnes. Live warrants and Cancelled warrants were recorded at 444850 tonnes and 36525 tonnes.

LME aluminium 3-month Asian Reference Price went down by US$33.56 per tonne or 1.47 per cent to clock at US$2,241.58 per tonne.

SHFE aluminium price 

On Wednesday, October 19, the SHFE aluminium benchmark price climbed down the graph by US$6 per tonne or 0.23 per cent to settle at US$2,539 per tonne.

The most-traded SHFE 2211 aluminium closed down 1.27 per cent or RMB 235 per tonne to RMB 18,315 per tonne, with open interest down 1,082 lots to 140,252 lots.

Overnight, the most-traded SHFE aluminium contract opened at RMB 18,265 per tonne, with the highest and lowest prices at RMB 18,330 per tonne and RMB 18,180 per tonne before closing at RMB 18,260 per tonne, down RMB 65 per tonne or 0.35 per cent.