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LME aluminium price hits 5-week low as exchange inventories surge; SHFE price grows to US$2,716/t

EDITED BY : 2MINS READ

LME aluminium opened at $2,459.5 per tonne on Monday and closed at $2,421.5 per tonne, a decrease of $26.5 per tonne or 1.08 per cent.

LME aluminium price hits 5-week low as exchange inventories surge; SHFE price grows to US$2,716/t

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On Monday, February 13, aluminium prices reached five-week lows as rising stockpiles in LME-approved warehouses dampened investor mood. As per the data, both LME aluminium cash bid price and LME aluminium official settlement price plunged by US$52.5 per tonne or 2.19 per cent and 2.15 per cent to come in at US$2,381.50 per tonne and US$2,382.50 per tonne.

3-month bid price and 3-month offer price dropped by US$42 per tonne or 1.70 per cent to close at US$2,423 per tonne and US$2,424 per tonne.

December 24 bid price and December 24 offer price slipped by US$37 per tonne or 1.40 per cent to settle at US$2,598 per tonne and US$2,603 per tonne.

LME aluminium opening stock closed at 576775 tonnes. Live warrants and Cancelled warrants came in at 424250 tonnes and 152525 tonnes.

LME aluminium 3-month Asian Reference Price dropped by US$29 per tonne or 1.16 per cent to peg at US$2,450.50 per tonne.

SHFE aluminium price

On Tuesday, February 14, the SHFE aluminium benchmark price halted at US$2,716 per tonne after recording a growth of US$12 per tonne or 0.44 per cent.

The most-traded SHFE 2303 aluminium closed down 1.01 per cent or RMB 190 per tonne at RMB 18,550 per tonne, with open interest down 2,405 lots to 172,516 lots.

Global Aluminium EXPO 2023

The most-traded SHFE 2303 aluminium contract opened at RMB 18,500 per tonne overnight before closing at RMB 18,530 per tonne, a drop of RMB 5 per tonne or 0.03 per cent.

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EDITED BY : 2MINS READ
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