LME aluminium price moves down to US$2,288.50/t; SHFE price grows by US$10/t

LME aluminium fell sharply after opening at US$2,351 per tonne on Wednesday but then rallied and closed at US$2,362 per tonne, up US$12.5 per tonne or 0.53 per cent.

On Wednesday, March 8, both LME aluminium cash bid price and LME aluminium official settlement price slumped by US$24 per tonne or 1.03 per cent to peg at US$2,288 per tonne and US$2,288.50 per tonne.

3-month bid price and 3-month offer price slipped by US$24 per tonne or 1.01 per cent to settle at US$2,335 per tonne and US$2,336 per tonne.

December 24 bid price and December 24 offer price moved down by US$16 per tonne or 0.62 per cent to peg at US$2,552 per tonne and US$2,557 per tonne.

LME aluminium opening stock came in at 554300 tonnes. Live warrants and Cancelled warrants scored at 442850 tonnes and 111450 tonnes.

LME aluminium 3-month Asian Reference Price climbed down the graph by US$27.55 per tonne or 1.15 per cent to halt at US$2,349.95 per tonne.

SHFE aluminium price

On Thursday, March 9, the SHFE aluminium benchmark price has ascended by US$10 per tonne or 0.37 per cent to reside at US$2,657 per tonne.

The most-traded SHFE 2304 aluminium closed down 0.54 per cent or RMB 100 per tonne at RMB 18,540 per tonne, with open interest down 2,267 lots to 187,861 lots.

The most-traded SHFE 2304 aluminium contract opened at RMB 18,550 per tonne overnight, with its low at RMB 18,450 per tonne before closing at RMB 18,530 per tonne, up RMB 25 per tonne or 0.14 per cent.