LME aluminium price reflects 4.64% fall to peg at US$3,355.50/t; SHFE price dips by US$11/t

LME aluminium opened at US$3,376 per tonne last Friday and closed at U$3,380 per tonne, an increase of US$15 per tonne or 0.45%.

On Friday, February 25, LME aluminium cash bid price recorded a fall of US$163.5 or 4.64% to total at US$3,354.50 per tonne. For the same day, LME aluminium official settlement price also nosedived by US$163.5 or 4.64% to score at US$3,355.50 per tonne. 3-month bid price and 3-month offer price pegged at US$3,312 per tonne and US$3,314 per tonne. December 23 bid price and December 23 offer price came in at US$2,972 per tonne and US$2,977 per tonne.

LME aluminium opening stock scored at 823125 tonnes. Live warrants and Cancelled warrants for the same day stood at 579875 tonnes and 243250 tonnes.

LME aluminium 3-month Asian Reference Price recorded at US$3,358.28 per tonne.

SHFE aluminium price

On Monday, February 28, the aluminium benchmark price for SHFE went down by US$11 per tonne to open the week at US$3,596 per tonne.

The SHFE 2204 aluminium contract opened at RMB 23,190 per tonne on Friday, with an intraday high and low at RMB 23,265 per tonne and RMB 22,450 per tonne respectively before closing down RMB 330 per tonne or 1.44% from yesterday at RMB 22,510 per tonne. The trading volume stood at 460,141 lots, and the open interest stood at 219,909 lots.

The most-traded SHFE 2204 aluminium contract opened at RMB 23,190 per tonne during last Friday’s night session, with the highest and lowest prices at RMB 23,265 per tonne and RMB 22,450 per tonne before closing at RMB 22,510 per tonne, down RMB 440 per tonne or 1.92%.