LME aluminium price edged lower for the second consecutive day at US$1995.50/t; SHFE decreased to US$2398/t

The LME complex were mostly higher on Wednesday, with aluminium added 0.68 per cent. Benchmark aluminium price on the London Metal Exchange, however, extended drop by 0.22 per cent to finish the day at US$ 1995.50 per tonne on December 30.

LME aluminium cash (bid) price and LME official settlement price stood at US$ 1995.50 per tonne on December 30, down by US$ 4.5 per tonne from US$ 2000 per tonne on December 29. 3-months bid price and 3-months offer price declined by US$ 7 per tonne from US$ 2004 per tonne to US$ 1997 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2025.50 per tonne.

The LME aluminium opening stock declined from 1366275 tonnes to 1351250 tonnes on Wednesday, December 30. Live Warrants stood at 1188175 tonnes, while Cancelled Warrants at 163075 tonnes.

LME aluminium 3-months Asian Reference Price stood at US$ 1994.92per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE decreased to US$ 2398 per tonne on Thursday, December 31, following a marginal intermittent hike from US$ 2412 per tonne to US$ 2413 per tonne on December 30.

The most-liquid SHFE 2102 aluminium contract finished the day 0.1 per cent higher at RMB 15,490 per tonne. Open interest fell 3,233 lots to 113,464 lots.