LME aluminium opened at US$2,261.50 per tonne on Monday, with its low and high at US$2,237 per tonne and US$2,268 per tonne, respectively, before closing at US$2,251 per tonne, down 1.03 per cent.
The LME aluminium official price chart on January 29 flashed a slight increase in rates, with the LME official cash bid price stopping at US$2,213.50 per tonne with a spike of US$2 per tonne or 0.09 per cent. The LME official settlement price parked at US$2,214 per tonne, having registered a similar rise.
Comparison with December 2023
If the LME aluminium price on December 29 last year is taken into account, we can calculate a Month-on-Month slump of US$121.50 per tonne or 5.2 per cent. Throughout January this year, the LME aluminium price has shown a gradual decline, with the highest price recorded at the wake of the year at US$2,336.50 per tonne on January 2.
The LME 3-month bid price remained stoic at US$2,249 per tonne, while the LME 3-month offer price added US$1 per tonne or 0.04 per cent to settle at US$2,251 per tonne.
The December 25 bid price and December 25 offer price gained US$5 per tonne or 0.2 per cent to anchor at US$2,488 per tonne and US$2,493 per tonne.
LME aluminium opening stock came in at 542,750 tonnes, with a loss of 3,500 tonnes or 0.64 per cent. Live warrants and cancelled warrants stood at 346,450 tonnes and 196,300 tonnes, respectively. LME aluminium 3-month Asian Reference Price soared by US$8.38 per tonne or 0.37 per cent to arrive at US$2,248.50 per tonne.
SHFE aluminium price today
On January 30, today, the SHFE aluminium price halted at US$2,655 per tonne, with a visible plunge of US$6 per tonne or 0.22 per cent. When the SHFE aluminium price on December 29 is considered, we can see a Month-on-Month de-escalation of US$101 per tonne or 3.66 per cent.
The most-traded SHFE 2403 aluminium contract opened at RMB 19,005 per tonne overnight, with its low and high at RMB 18,985 per tonne and RMB 19,060 per tonne before closing at RMB 19,055 per tonne, up RMB 50 per tonne or 0.26 per cent.
SHFE 2307 aluminium added RMB 595 per tonne or 3.38 per cent to RMB 18,185 per tonne. The open interest fell 11,785 lots to 256,640 lots.
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