LME benchmark aluminium price loses US$32.50/t after Good Friday; SHFE aluminium price drops US$3/t

LME aluminium prices opened at US$2,337.5 per tonne with the highest point of US$2,344 per tonne and the lowest point of US$2,296 per tonne and finally closed at US$2,303 per tonne, a decrease of US$37 per tonne or 1.58 per cent from the previous trading day.

On April 11, Tuesday, the LME aluminium cash bid price came in at US$2,267 per tonne, with a loss of US$33 per tonne or 1.43 per cent and the LME aluminium official settlement price settled at US$2,268 per tonne, dropping by US$32.50 per tonne or 1.41 per cent. 

The 3-month bid price plunged by US$33 per tonne or 1.41 per cent to settle at US$2,307 per tonne, and the 3-month offer price dived by US$32.50 per tonne or 1.39 per cent halting at US$2,308 per tonne.

December 24 bid price and December 24 offer price halted at US$2,497 per tonne and US$2,502 per tonne, with a fall of US$36 per tonne or 1.42 per cent.

LME aluminium opening stock witnessed a decline of 4,075 tonnes or 0.79 per cent to anchor at 512,725 tonnes.     

Live warrants totalled 421,450 tonnes, recording no alteration from the week before Good Friday. Cancelled warrants read 91,275 tonnes, with 4,075 tonnes or 4.27 per cent loss.

The 3-month Asian Reference Price came in at US$2,335.29 per tonne after US$15.32 per tonne or 0.65 per cent got slashed from it.

SHFE aluminium price

On April 12, today, the SHFE aluminium benchmark price settled at US$2,675 per tonne, with a US$3 per tonne or 0.11 per cent drop.

Overnight, the most-traded SHFE 2305 aluminium contract opened at RMB 18,415 per tonne, with the highest price of RMB 18,485 per tonne and the lowest price of RMB 18,375 per tonne, and closed at RMB 18,420 per tonne, down RMB 45 per tonne or 0.24 per cent from the previous trading day.

SHFE 2305 aluminium closed down RMB 195 per tonne or 1.04 per cent at RMB 18,485 per tonne. The open interest dropped from 11,741 lots to 189,956 lots.