LME benchmark aluminium price descends to US$2392/t with US$18/t loss; SHFE gains US$3/t

LME aluminium opened at US$2,464 per tonne on Monday, with its high and low at US$2,478 per tonne and US$2,408 per tonne, respectively, before closing at US$2,436 per tonne, an increase of US$27.5 per tonne or 1.12 per cent.

On November 14, Monday LME aluminium cash bid price slumps by US$16.50 per tonne or 0.68 per cent to close at US$2391.50 per tonne and the LME aluminium official settlement price downsized by US$18 per tonne or 0.75 per cent to halt at US$2,392 per tonne.

The 3-month bid price has gone down by US$9 per tonne or 0.37 per cent to settle at US$2,416 per tonne, and the 3-month offer price dipped by US$8 per tonne or 0.33 per cent to close at US$2,418 per tonne.  

December 23 bid price and December 23 offer price both recorded a fall of US$10 per tonne or 0.4 per cent, stopping at US$2,482 per tonne and US$2,487 per tonne, respectively. 

LME aluminium opening stock plummeted by 5,250 tonnes or 0.95 per cent to settle at 544,025 tonnes from 549,275 tonnes recorded the previous week.  

Live warrants totalled 319,925 tonnes, refraining from any alteration. Cancelled warrants read 224,100 tonnes, with a fall of 5,250 tonnes or 2.29 per cent.  

LME aluminium 3-month Asian Reference Price came in at US$2,424 per tonne after gaining US$60.14 per tonne or 2.54 per cent.

SHFE aluminium price 

Today, on November 15, the SHFE benchmark aluminium price has escalated by US$3 per tonne or 0.11 per cent to rest at US$2,668 per tonne.

Overnight, the most-traded SHFE 2212 aluminium contract opened at RMB 18,775 per tonne, with its low and high at RMB 18,710 per tonne and RMB 18,855 per tonne before closing at RMB 18,820 per tonne, down RMB 80 per tonne or 0.42 per cent.

The most-traded SHFE 2212 aluminium closed up 0.29 per cent or RMB 55 per tonne at RMB 18,780 per tonne, with open interest up 3,108 lots to 180,681 lots.