LME aluminium price dips by 1.33% recording M-o-M slump of US$105/t; SHFE eliminates US$6/t

On Monday, June 19, both the LME aluminium cash bid price and LME aluminium official settlement price shed US$29.50 per tonne or 1.33 per cent to halt at US$2,194.50 per tonne and US$2,195 per tonne, respectively. The aluminium spot price has slumped 4.56 per cent or US$105 per tonne month-on-month from US$2,300 per tonne on May 19 to US$2,195 per tonne, which was yesterday’s official trading price. 

The 3-month bid price dropped by US$25.50 per tonne or 1.12 per cent, and the 3-month offer price lost US$25 per tonne or 1.10 per cent to anchor at US$2,244 per tonne and US$2,245 per tonne.

December 24 bid price and December 24 offer price both descended by US$23 per tonne or 0.95 per cent to officially close at US$2,392 per tonne and US$2,397 per tonne.

LME aluminium opening stock came in at 559,925 tonnes, down 4,925 tonnes or 0.87 per cent from the previous week. Live warrants and Cancelled warrants accumulated at 305,650 tonnes and 254,275 tonnes.

LME aluminium 3-month Asian Reference Price marked a fall of US$18.66 per tonne or 0.82 per cent to stop at US$2,260.79 per tonne.

SHFE aluminium price

Today, on June 20, the SHFE aluminium price has shrunk by US$6 per tonne or 0.23 per cent to close at US$2,571 per tonne. On a month-on-month scale, the aluminium price index shows a plunge of US$39 per tonne or 1.49 per cent from US$2,610 per tonne on May 19. 

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.