LME aluminium price declines by US$15/t to close at US$2635/t; SHFE price inches up by only US$2/t

LME aluminium opened at US$2,647 per tonne on Tuesday morning and closed at US$2,625 per tonne, down US$25 per tonne or 0.94 per cent. On the supply side, the current aluminium output finds it hard to increase.

LME aluminium cash (bid) price decreased by US$14.50 per tonne on Tuesday, November 30, to stand at US$2,634.50 per tonne, while LME official settlement price declined by US$15 per tonne to come in at US$2,635 per tonne. 3-month bid price and 3-month offer price slipped by US$16.50 per tonne to close at US$2,625 per tonne and US$2,626 per tonne, respectively. December 22 bid price and December 22 offer price settled at US$2,608 per tonne and US$2,613 per tonne.

LME aluminium opening stock on November 30 continued to decrease to 900975 tonnes. Live Warrants remained restrained at 576325 tonnes, while Cancelled Warrants stood lower at 324650 tonnes.

LME aluminium 3-month Asian Reference Price settled at US$2,623.56 per tonne.

SHFE Aluminium Price Trend

The benchmark aluminium price for SHFE inched up by only US$2 per tonne on Wednesday, December 1, to stand at US$2,977 per tonne.

The most-traded SHFE 2201 aluminium closed up 0.19 per cent or RMB 35 per tonne to RMB 18,905 per tonne, with open interest down 1343 lots to 203468 lots.

The most-traded SHFE 2201 aluminium contract fell 0.16 per cent or RMB 30 per tonne last night to settle at RMB 18,875 per tonne.