LME aluminium price trended down this week from $1737/t to $1705/t; SHFE rose to $2120/t before National Day holidays

Three-month LME aluminium settled 1.28 per cent firmer at US$ 1784.50 per tonne on Monday, but ended 0.34% lower at US$1,778.5 per tonne on the very next day.

LME aluminium cash (bid) price and LME official settlement price started the week on Monday, September 28, at US$ 1737 per tonne, increasing by US$ 28.50 per tonne from the previous day. Extending the hike on Tuesday, September 29, both the prices came in at US$ 1746 per tonne. On Wednesday, September 30, the prices declined to US$ 1737 per tonne, and further to US$ 1716 per tonne on Thursday, October 1. On Friday, October 2, both LME aluminium cash (bid) price and LME official settlement price continued to fall to stand at US$ 1705 per tonne. This shows the LME aluminium prices recorded downtrend over the week by US$ 32 per tonne.

3-months bid price and 3-months offer price also declined over the week from US$ 1772 per tonne to US$ 1740 per tonne. Only on Monday and Tuesday, the price rose by US$ 26 per tonne and US$ 8 per tonne, respectively, to stand at US$ 1772 per tonne and US$ 1780 per tonne. Wednesday onwards the prices began to fall and continued until they declined to US$ 1740 per tonne on Friday, October 2. Dec 21 bid price and Dec 21 offer price also trended down this week from US$ 1841 per tonne to US$ 1813 per tonne.

The LME aluminium opening stock declined from 1473025 tonnes on Monday, September 28, to 1444275 tonnes on Friday, October 2.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE increased over the week from US$ 2080 per tonne on Monday, September 28, to US$ 2,120 per tonne on Wednesday September 30. From October 1, SHFE was closed for the National Day and Mid-Autumn Festival holidays. The market will reopen on October 9.

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