LME aluminium price tumbles US$100/t M-o-M by June 9 while SHFE price shifts 0.34% down today

LME aluminium opened at US$2,261 per tonne last Friday, with its low and high at US$2249 per tonne and US$2,284.5 per tonne respectively before closing at US$2,262 per tonne, a drop of US$1.5 per tonne or 0.07 per cent.

On June 9, Friday, the LME aluminium cash bid price and the LME aluminium official settlement price closed at US$2,220.50 per tonne and US$2,221 per tonne, travelling up the aluminium price graph by US$33.50 per tonne or 0.53 per cent each. The LME aluminium price has seen a major drop of US$100 per tonne or 4.3 per cent Month-on-Month from May 9 (US$2,321 per tonne) to June 9, last Friday.

The 3-month bid price augmented by US$39.50 per tonne or 1.77 per cent and the 3-month offer price jumped by US$39 per tonne or 1.75 per cent, officially stopping at US$2,265.50 per tonne and US$2,266 per tonne, respectively.

December 24 bid price and December 24 offer price galloped by US$33 per tonne or 1.38 per cent each to anchor at US$2,415 per tonne and US$2,420 per tonne, respectively. 

LME aluminium opening stock slumped by 0.66 per cent or 3,825 tonnes, officially closing at 578,300 tonnes from 582,125 tonnes recorded on Thursday.

Live warrants read 321,000 tonnes, with a grand rise of 4,525 tonnes or 1.43 per cent. Cancelled warrants halted at 257,300 tonnes with 3,850 tonnes or 3.14 per cent deducted from it.

The 3-month Asian Reference Price closed at US$2,267.47 per tonne, with a levitation of US$39.47 per tonne or 1.77 per cent.

SHFE aluminium price

On June 12, today, SHFE aluminium spot price has shed US$9 per tonne or 0.34 per cent, officially closing at US$2,607 per tonne. The SHFE aluminium official price has seen a small rise of US$24 per tonne or 0.92 per cent Month-on-Month from US$2,583 per tonne on May 12 to US$2,607 per tonne, today.

The most-traded SHFE 2307 aluminium contract opened at RMB 18,425 per tonne at last Friday’s night session and rose to RMB 18,535 per tonne before closing at RMB 18,425 per tonne, up RMB 15 per tonne or 0.08 per cent.

SHFE 2307 aluminium added RMB 595 per tonne or 3.38 per cent to RMB 18,185 per tonne. The open interest fell 11,785 lots to 256,640 lots.