LME aluminium opened at US$2,204 per tonne on Monday, with its high and low at US$2,213 per tonne and US$2,174 per tonne, respectively, before closing at US$2,184 per tonne, down US$16 per tonne or 0.73 per cent.
On December 4, the LME aluminium live price chart registered a slight spike in aluminium prices, with the LME aluminium cash bid price and the LME aluminium official price gaining US$1 per tonne or 0.05 per cent to officially close at US$2,148 per tonne and US$2,148.50 per tonne.
As we enter the last month of 2023, it should be mentioned the LME aluminium market could not recover from the constant geo-political digression and the highest price was witnessed at the beginning of the year, January 18, when the aluminium price stood at US$2,636 per tonne. The average aluminium price calculated for the entire year is US$2,289.95 per tonne, which is not even close to the US$2,500 mark.
If we consider the LME aluminium price on December 5, last year, we can find a Year-on-Year plunge of US$336.50 per tonne or 13.54 per cent from US$2,485 per tonne recorded that day.
London Metal Exchange graph displayed that the 3-month bid price and the 3-month offer price on December 4 added US$4.50 per tonne or 0.21 per cent and US$3.50 tonne or 0.16 per cent, halting at US$2,187.50 per tonne and US$2,188.50 per tonne, respectively.
The December 24 bid price and the December 24 offer price got boosted by US$5 per tonne or 0.22 per cent, stopping at US$2,305 per tonne and US$2,310 per tonne.
LME aluminium opening stock negated 1,475 tonnes or 0.32 per cent, officially marking 452,900 tonnes. Live warrants stood at 200,050 tonnes, dropping a massive 3,525 tonnes or 1.79 per cent. Cancelled warrants halted at 252,850 tonnes, plummeting by 5,000 tonnes or 1.94 per cent.
LME aluminium 3-month Asian Reference Price anchored at US$2,197.73 per tonne, up US$4.67 per tonne or 0.21 per cent.
SHFE aluminium price
Today, on December 5, the Shanghai Futures Exchange (SHFE) aluminium price chart registered a loss of US$34 per tonne or 1.29 per cent, with the official SHFE price parking at US$2,602 per tonne.
When the SHFE aluminium price on December 5, last year, is taken into consideration, we can see a slump of US$197 per tonne or 7.04 per cent Year-on-Year, from US$2,799 per tonne recorded that day.
Overnight, the most-traded SHFE 2401 aluminium contract opened at RMB 18560 per tonne, with its lowest and highest at RMB 18380 per tonne and RMB 18575 per tonne before closing at RMB 18475 per tonne, down RMB 170 per tonne or 0.91 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.
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