LME aluminium price drops US$20.5/t with US$2,200 per tonne average limitation; SHFE aluminium price sheds US$6/t

LME aluminium opened at US$2218.5 per tonne in the previous trading day, with its low and high at US$2187 per tonne and US$2219 per tonne, respectively, before closing at US$2194 per tonne, down 0.95 per cent.

The LME aluminium live price chart, on November 30, marked a falling market price trend, with the LME aluminium cash bid price and the LME aluminium official price discarding US$20.50 per tonne or 0.94 per cent to officially close at US$2,157 per tonne and US$2,157.50 per tonne.

During Q3 2023, the highest LME aluminium price was witnessed on October 2, when the price stood at US$2,286 per tonne. Other than that, the overall mark has stayed below or near US$2,200 per tonne.

London Metal Exchange graph displayed that the 3-month bid price and the 3-month offer price also deflected US$20.50 per tonne or 0.92 per cent, halting at US$2,197 per tonne and US$2,198 per tonne, respectively.

The December 24 bid price and the December 24 offer price slumped by US$18 per tonne or 0.77 per cent, stopping at US$2,315 per tonne and US$2,320 per tonne.

LME aluminium opening stock de-escalated by 5,000 tonnes or 1.08 per cent, officially marking 459,375 tonnes. Live warrants stood at 196,525 tonnes, dropping a similar 5,000 tonnes or 2.48 per cent. Cancelled warrants halted at 262,850 tonnes, with no notable alteration at all.

LME aluminium 3-month Asian Reference Price stopped at US$2,215.05 per tonne, down US$6.34 per tonne or 0.29 per cent.

SHFE aluminium price

On December 1, today, the Shanghai Futures Exchange (SHFE) aluminium price chart registered a slight plunge of US$6 per tonne or 0.23 per cent, with the official SHFE price officiating at US$2,618 per tonne.

Overnight, the most-traded SHFE 2401 aluminium contract opened at RMB 18545 per tonne, with low and high at RMB 18500 per tonne and RMB 18625 per tonne before closing at RMB 18530 per tonne, down RMB 50 per tonne or 0.27 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.