LME aluminium price rebounded to $2010/t after a plunge; SHFE price stood higher at $2518/t

The LME complex mostly advanced on Wednesday, December 9, with aluminium increased 1.85 per cent. Benchmark aluminium price on the London Metal Exchange rose by 1.21 per cent on December 9.

Both LME aluminium cash (bid) price and LME official settlement price rebounded to US$ 2010 per tonne on Wednesday, December 9, following a plunge from US$ 2004 per tonne to US$ 1986 per tonne on December 8. 3-months bid price and 3-months offer price stood at US$ 2027.50 per tonne, up by US$ 20.50 per tonne from US$ 2007 per tonne. Dec 21 bid price and Dec 21 offer price hovered at US$ 2062.50 per tonne.

The LME aluminium opening stock decreased from 1343950 tonnes to 1338575 tonnes on December 9. Live Warrants stood at 1144850 tonnes, while Cancelled Warrants at 193725 tonnes.

LME aluminium 3-months Asian Reference Price stood at US$ 2007.54per tonne, as of Wednesday, December 9.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE increased to stand at US$ 2518 per tonne on Thursday, December 10, 2020.

The most-liquid SHFE 2101 aluminium contract finished the day 1.12 per cent lower at RMB 15,955 per tonne. Open interest fell 180 lots to 132,579 lots.