LME aluminium price plunges by US$44/t to US$2,172/t; SHFE price hikes to US$2,582/t

LME aluminium opened at US$2,238 per tonne on Tuesday, with its low and high at US$2,205.5 per tonne and US$2,246 per tonne, respectively, before closing at US$2,205.5 per tonne, a drop of US$34.5 per tonne or 1.54 per cent.

On Tuesday, June 6, both LME aluminium cash bid price and LME aluminium official settlement price plunged by US$43 per tonne or 1.94 per cent and US$44 per tonne or 1.98 per cent to close at US$2,171 per tonne and US$2,172 per tonne.

3-month bid price and 3-month offer price lost US$36 per tonne or 1.59 per cent to close at US$2,218.50 per tonne and US$2,219 per tonne.

December 24 bid price and December 24 offer price dropped by US$22 per tonne or 0.91 per cent to peg at US$2,380 per tonne and US$2,385 per tonne.

LME aluminium opening stock halted at 589475 tonnes. Live warrants and Cancelled warrants closed at 321875 tonnes and 267600 tonnes.

LME aluminium 3-month Asian Reference Price dipped by US$9.01 per tonne to settle at US$2,234.69 per tonne.

SHFE aluminium price

On Wednesday, June 7, the SHFE aluminium benchmark price has increased by US$10 per tonne to close at US$2,582 per tonne.

Overnight, the most-traded SHFE 2307 aluminium contract opened at RMB 18,050 per tonne, with its low and high at RMB 18,015 per tonne and RMB 18,105 per tonne before closing at RMB 18,070 per tonne, down RMB 40 per tonne or 0.22 per cent.