LME aluminium price closes 0.51% lower at US$2,300/t; SHFE price steps down by US$7/t

LME aluminium opened at US$2,288 per tonne last Friday, with its low and high at US$2,284 per tonne and US$2,288 per tonne, respectively, before closing at US$2,286.5 per tonne, an increase of US$2.5 per tonne or 0.11 per cent.

On Friday, May 19, both LME aluminium cash bid price and LME aluminium official settlement price dipped by US$12 per tonne or 0.51 per cent to stand at US$2,298 per tonne and US$2,300 per tonne.

3-month bid price and 3-month offer price fell by US$7 per tonne or 0.30 per cent to score at US$2,295 per tonne and US$2,297 per tonne.

December 24 bid price and December 24 offer price dropped by US$15 per tonne or 0.60 per cent to halt at US$2,448 per tonne and US$2,453 per tonne.

LME aluminium opening stock came in at 555200 tonnes. Live warrants and Cancelled warrants closed at 375175 tonnes and 180025 tonnes.

LME aluminium 3-month Asian Reference Price decreased by US$6.3 per tonne or 0.27 per cent to reside at US$2,284.54 per tonne.

SHFE aluminium price           

On Monday, May 22, SHFE aluminium price went down by US$7 per tonne or 0.26 per cent to close at US$2,603 per tonne.

The most-traded SHFE 2306 aluminium contract opened at RMB 18,530 per tonne at last Friday’s night session, with its low and high at RMB 18,350 per tonne and RMB 18,560 per tonne before closing at RMB 18,350 per tonne, down RMB 100 per tonne or 0.54 per cent. 

SHFE 2306 aluminium dipped RMB 35 per tonne or 0.19 per cent to RMB 18,450 per tonne. The open interest decreased 11,729 lots to 141,857 lots.