LME aluminium closes the week with a fall of US$42/t to US$2,249/t; SHFE price grows by US$20/t

LME aluminium opened at US$2,324 per tonne last Friday and fell to US$2,285 per tonne before closing at US$2,306 per tonne, down 0.58 per cent.

On Friday, March 10, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$42 per tonne or 1.83 per cent to settle at US$2,248 per tonne and US$2,249 per tonne.

3-month bid price and 3-month offer price slumped by US$38.5 per tonne or 1.64 per cent and US$38 per tonne or 1.62 per cent to close at US$2,297 per tonne and US$2,297.50 per tonne.

December 24 bid price and December 24 offer price decreased by US$38 per tonne or 1.49 per cent and 1.48 per cent to stand at US$2,510 per tonne and US$2,515 per tonne.

LME aluminium opening stock settled at 548375 tonnes. Live warrants and Cancelled warrants closed at 427075 tonnes and 121300 tonnes.

LME aluminium 3-month Asian Reference Price descended by US$33.18 per tonne or 1.41 per cent to score at US$2,310.82 per tonne.

SHFE aluminium price

On March 13, the SHFE aluminium benchmark price has increased by US$20 per tonne or 0.76 per cent to peg at US$2,646 per tonne.

The most-traded SHFE 2304 aluminium closed down 1.35 per cent or RMB 250 per tonne at RMB 18,265 per tonne, with open interest up 10,043 lots to 196,068 lots.

The most-traded SHFE 2304 aluminium contract opened at RMB 18,245 per tonne at last Friday’s night session and hovered around RMB 18,250 per tonne before closing at RMB 18,255 per tonne, down RMB 110 per tonne or 0.6 per cent.