LME aluminium price edged higher at $1743.5/t on continued fall in opening stock; SHFE up by $9/t

On the London Metal Exchange, nonferrous metals finished in negative territory on Thursday, September 11, with aluminium slipped by 0.31 per cent.

LME aluminium cash (bid) price and LME official settlement price stood at US$ 1743.50 per tonne on September 10, up by US$ 3.50 per tonne from US$ 1740 per tonne on September 9. 3-months bid price and 3-months offer price hovered at US$ 1781 per tonne versus US$ 1777.50 per tonne on the previous day. Dec 21 bid price and Dec 21 offer price came in at US$ 1858.50 per tonne.

The LME aluminium opening stock extended decline to 1524075 tonnes. Live Warrants stood at 1303000 tonnes, while Cancelled Warrants at 221075 tonnes.

LME aluminium 3-months Asian Reference Price hovered at US$ 1774.90per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE increased for the second consecutive day by US$ 9 per tonne to US$ 2133 per tonne on Friday, September 11.

The most-liquid SHFE 2010 aluminium contract finished the day 0.28 per cent weaker at RMB 14,340 per tonne in choppy trading. Open interest climbed up 1,049 lots to 123,000 lots. SMM data showed that stocks across eight consumption areas in China, including SHFE warrants, increased 3,000 tonnes from a week ago to stand at 764,000 tonnes as of Thursday September 10.

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