LME benchmark aluminium price falls US$25/t to US$2235.50/t; SHFE loses US$2/t

LME aluminium opened at US$2,265.5 per tonne on Tuesday, with its low and high at US$2237.5 per tonne and US$2,273 per tonne respectively before closing at US$2,265 per tonne, a drop of US$4 per tonne or 0.18 per cent.

On May 16, Wednesday, the LME aluminium cash bid price stopped at US$2,235 per tonne, with a slump of US$25 per tonne or 1.11 per cent, and the LME aluminium official settlement price closed at US$2,235.50 per tonne, with US$25 per tonne or 1.1 per cent dive. 

The 3-month bid price halted at US$2,241.50 per tonne, with a loss of US$24.50 per tonne or 1.08 per cent and the 3-month offer price went down the graph by US$25.50 per tonne or 1.12 per cent, resting at US$2,242.50 per tonne.

December 24 bid price and December 24 offer price both have plunged by US$25 per tonne or 1.02 per cent, officially closing at US$2,410 per tonne and US$2,415 per tonne, respectively.

LME aluminium opening stock witnessed a fall of 1.01 per cent, officially closing at 562,450 tonnes, lower by 5,750 tonnes than the day before.

Live warrants totalled 373,825 tonnes, recording a hike of 800 tonnes or 0.21 per cent. Cancelled warrants read 188,625 tonnes, with a massive 6,550 tonnes or a 3.35 per cent being subtracted from it.

The 3-month Asian Reference Price came in at US$2,258.67 per tonne after gaining US$18.53 per tonne or 0.83 per cent.

SHFE aluminium price

On May 17, today, SHFE aluminium price has decreased by US$2 per tonne or 0.08 per cent, officially closing at US$2,610 per tonne.

The most-traded SHFE 2306 aluminium contract opened at RMB 18,115 per tonne overnight, with its low and high at RMB 18,085 per tonne and RMB 18,280 per tonne before closing at RMB 18,230 per tonne, up RMB 115 per tonne or 0.63 per cent.

SHFE 2306 aluminium added RMB 80 per tonne or 0.44 per cent to RMB 18,115 per tonne. The open interest dipped 9,940 lots to 182,752 lots.