LME aluminium price falls for the third day in a row to US$2218.5/t; SHFE price dips by US$14/t

Three-month LME aluminium hit a low of US$$2,191 per tonne after opening at US$2,255 per tonne on Tuesday, October 11, but then rallied and closed at US$2,251 per tonne, down 0.16 per cent.

On Tuesday, October 11, LME aluminium cash bid price and LME aluminium official settlement price continued to decline for the third day in a row. Both the prices lost US$ 55.50 per tonne and settled at US$2,218 per tonne and US$2,218.50 per tonne, respectively.

3-month bid price and 3-month offer price plunged by US$62 per tonne and US$62.50 per tonne to rest at US$2,215 per tonne and US$2,215.50 per tonne. December 23 bid price and December 23 offer price further contracted by US$66 per tonne to hover around US$2,297 per tonne and US$2,302 per tonne.

LME aluminium opening stock slipped 1875 tonnes to stand at 325800 tonnes. Live Warrants and Cancelled Warrants were recorded at 271600 tonnes and 54200 tonnes.

LME aluminium 3-month Asian Reference Price dropped US$22.22 per tonne to clock at US$2,238.83 per tonne.

SHFE aluminium price 

On Wednesday, October 12, the SHFE aluminium benchmark price dipped by US$14 per tonne mid-week to close at US$2,578 per tonne.

SHFE aluminium fell to RMB 18,355 per tonne after opening at RMB 18,485 per tonne overnight, and closed at RMB 18,475 per tonne.

The most-traded SHFE 2211 aluminium closed down 0.27 per cent or RMB 50 per tonne to RMB 18,465 per tonne, with open interest down 9,030 lots to 147,460 lots.