LME aluminium live price chart shows US$31/t drop on August 14; SHFE aluminium price negates US$5/t

LME aluminium opened at US$2,180 per tonne on Monday with its high and low at US$2,180 per tonne and US$2,143.5 per tonne respectively before closing at US$2146.5 per tonne, a decrease of US$29 per tonne or 1.33 per cent from the previous trading day.

On August 14, the London Metal Exchange witnessed falling aluminium prices with the LME aluminium cash bid price stopping at US$2,095.50 per tonne, tumbling by US$29.50 per tonne or 1.39 per cent. The LME aluminium live price chart also flashed a US$31 per tonne or 1.46 per cent crunch in the LME aluminium official settlement price, with it closing at US$2,096 per tonne.

If we consider the LME aluminium market on August 15 one year back, the price stood at US$2,389.50 per tonne, which has slumped year-on-year by US$293.50 per tonne or 12.28 per cent to arrive at what it is today. 

LME 3-month bid price and LME 3-month offer price plunged by US$31 per tonne or 1.42 per cent and US$31.50 per tonne or 1.44 per cent, settling down at US$2,146 per tonne and US$2,146.50 per tonne. 

December 24 bid price and December 24 offer price both lost US$30 per tonne or 1.28 per cent to enlist a price of US$2,312 per tonne and US$2,317 per tonne.

LME aluminium opening stock stood at 491,750 tonnes, with a downfall of 2,075 tonnes or 0.42 per cent.

Live warrants and Cancelled warrants settled at 280,675 tonnes and 211,075 tonnes.

LME aluminium 3-month Asian Reference Price halted at US$2,155.68 per tonne after shedding US$39.14 per tonne or 1.78 per cent. 

SHFE aluminium price

Today, on August 15, the aluminium benchmark price at the Shanghai Futures Exchange (SHFE) has stepped US$5 per tonne or 0.2 per cent upwards to halt at US$2,537 per tonne. Recently, there have been minor fluctuations in SHFE aluminium prices but if we consider the previous year’s same time, the aluminium price has delved US$203 per tonne downwards on a year-on-year scale.

Overnight, the most-traded SHFE 2309 aluminium contract opened at RMB 18,210 per tonne, with the lowest and highest prices at RMB 18,165 per tonne and RMB 18,345 per tonne before closing at RMB 18,290 per tonne, down RMB 15 per tonne or 0.08 per cent from the previous trading day.

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.