LME benchmark aluminium price drops US$58/t marking fluctuating prices in June; SHFE loses US$57/t after Dragon Boat Festival

LME aluminium opened at US$2,208.5 per tonne last Friday, with its low and high at US$2,163.5 per tonne and US$2,209 per tonne respectively before closing at US$2,178 per tonne, a drop of US$23.5 per tonne or 1.07 per cent.

On June 23, Friday, the LME aluminium cash bid price and the LME aluminium official settlement price closed at US$2,132 per tonne and US$2,132.50 per tonne, uniformly losing US$58 per tonne or 2.65 per cent.

The 3-month bid price shed US$59.50 per tonne or 2.66 per cent to rest at US$2,174 per tonne and the 3-month offer price also dropped by US$59 per tonne or 2.64 per cent, officially stopping at US$2,175 per tonne.

December 24 bid price and December 24 offer price both decreased by US$52 per tonne or 2.17 per cent each to arrive at US$2,333 per tonne and US$2,338 per tonne, respectively. 

LME aluminium opening stock slumped by 0.99 per cent or 5,400 tonnes, officially closing at 540,975 tonnes from 546,375 tonnes recorded on Thursday. 

Live warrants read 290,175 tonnes, with a downfall of 9,775 tonnes or 3.26 per cent. Only, Cancelled warrants halted at 250,800 tonnes with 4,375 tonnes or 1.77 per cent added to it.

The 3-month Asian Reference Price closed at US$2,203 per tonne, diving by US$29.66 per tonne or 1.33 per cent.

SHFE aluminium price

Today, on June 26, SHFE aluminium market has resumed after the Dragon Boat Festival in China and the price has declined by US$57 per tonne or 2.21 per cent from US$2,577 per tonne recorded on June 21, before the holidays. Today the SHFE aluminium spot price has halted at RMB 2,520 per tonne.

The most-traded SHFE 2307 aluminium contract opened at RMB 18,550 per tonne at the night session of June 21 (last day before the Dragon Boat Festival), with its low and high at RMB 18,370 per tonne and RMB 18,590 per tonne before closing at RMB 18,390 per tonne, down RMB 155 per tonne or 0.84 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.