LME aluminium official price plunges 14.84% Y-o-Y; SHFE scores US$8/t today, down US$420/t Y-o-Y

LME aluminium opened at US$2,250.5 per tonne on Thursday, with its low and high at US$2,216 per tonne and US$2,254.5 per tonne, respectively, before closing at US$2,250 per tonne, a dip of US$4 per tonne or 0.18 per cent.

On June 15, Thursday, the LME aluminium cash bid price and the LME aluminium official settlement price closed at US$2,196 per tonne and US$2,197 per tonne, showing a downward trend of US$3 per tonne or 0.14 per cent in the aluminium price index. On June 15 2022, the LME aluminium spot price was US$2,580 per tonne, which has nosedived US$383 per tonne or 14.84 per cent Year-on-Year to rest at US$2,197 per tonne on Thursday this week. 

The 3-month bid price and the 3-month offer price also dropped by US$6 per tonne or 0.27 per cent, officially stopping at US$2,236.50 per tonne and US$2,237 per tonne, respectively. 

December 24 bid price and December 24 offer price shed US$5 per tonne or 0.2 per cent each to clock at US$2,383 per tonne and US$2,388 per tonne, respectively. 

LME aluminium opening stock fell by 0.64 per cent or 3,700 tonnes, officially closing at 569,075 tonnes from 572,775 tonnes recorded on the day before. 

Live warrants read 309,900 tonnes, with recorded alteration at all. Cancelled warrants halted at 259,175 tonnes with 3,700 tonnes or 1.4 per cent slump.

The 3-month Asian Reference Price closed at US$2,236.95 per tonne, dipping by US$11.66 per tonne or 0.52 per cent.

SHFE aluminium price

On June 16, today, SHFE aluminium spot price has shifted up the aluminium price graph by US$8 per tonne or 0.31 per cent, officially closing at US$2,589 per tonne. On June 16 2022, the SHFE aluminium price was US$3,009 per tonne, which has plummeted by US$420 per tonne or 13.96 per cent Year-on-Year to halt at US$2,589 per tonne today. 

Overnight, the most-traded SHFE 2307 aluminium contract opened at RMB 18,535 per tonne and closed at RMB 18,465 per tonne, with its low of RMB 18,395 per tonne, down RMB 65 per tonne or 0.35 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.