LME aluminum opened at US$2,236.50 per tonne on Monday, with its high and low at US$2,236.50 per tonne and US$2,203 per tonne, respectively, before closing at US$2,204.5 per tonne, down 1.43 per cent.
On Monday, February 5, LME aluminium cash bid price plunged by US$25.50 per tonne to reach US$2,183 per tonne, while LME aluminium official settlement price contracted by US$26 per tonne to settle at US$2,183.50 per tonne.
The LME aluminium benchmark price marked the third consecutive day of downfall, bringing the price M-o-M down by US$32 per tonne from US$2,215.50 per tonne
3-month bid price and 3-month offer price descended by US$26.50 per tonne, standing at US$2,219 per tonne and US$2,219.50 per tonne, respectively. Both December 25 bid price and December 25 offer price shrank by US$30 per tonne to close the day at US$2,445 per tonne and US$2,450 per tonne.
LME aluminium opening stock amounted to 531,175 tonnes, experiencing a downfall of 2,300 tonnes from 533,475 tonnes on Friday, February 2. Live Warrants and Cancelled Warrants settled at 318,575 tonnes and 212,600 tonnes, respectively.
LME aluminium 3-month Asian Reference Price slipped US$6.92 per tonne over the weekend to come in at US$2,231.02 per tonne on February 5.
SHFE aluminium price
The SHFE aluminium benchmark price has built up by US$10 per tonne overnight to reach US$2,620 per tonne on Tuesday, February 6, following a sharp decline of US$41 per tonne on the previous day from US$2,651 per tonne to US$2,610 per tonne.
The most-traded SHFE 2403 aluminum contract opened at RMB 18,740 per tonne overnight, with its low and high at RMB 18,710 per tonne and RMB 18,775 per tonne before closing at RMB 18,760 per tonne, down 0.29 per cent.
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