LME benchmark aluminium price sheds US$35.5/t; SHFE aluminium price halts at US$2,700/t mark losing US$5/t

LME aluminium moved all the way down to a low of US$2,325 per tonne after opening at US$2,372 per tonne on Wednesday, and closed the day at US$2,340.5 per tonne, a drop of US$34.5 per tonne or 1.45 per cent.

On April 5, Wednesday, the LME aluminium cash bid price slumped by US$35 per tonne or 1.49 per cent and the LME aluminium official settlement price dropped by US$35.50 per tonne or 1.52 per cent to close at US$2,305.50 per tonne and US$2,306 per tonne.

The 3-month bid price and the 3-month offer price plunged by US$40 per tonne or 1.67 per cent halting at US$2,353 per tonne and US$2,354 per tonne, respectively.

December 24 bid price and December 24 offer price halted at US$2,550 per tonne and US$2,555 per tonne with a fall of US$33 per tonne or 1.27 per cent.

LME aluminium opening stock witnessed a loss of 3,275 tonnes or 0.63 per cent to clock at 516,825 tonnes from 520,100 tonnes recorded the day before.       

Live warrants totalled 417,550 tonnes, descending by 1,200 tonnes or 0.29 per cent. Cancelled warrants read 99,275 tonnes, with 2,075 tonnes or 2.05 per cent loss.

The 3-month Asian Reference Price came in at US$2,356.25 per tonne after US$35.44 per tonne or 1.48 per cent was subtracted from it.

SHFE aluminium price

On April 6, today, the SHFE aluminium benchmark price has settled at US$2,700 per tonne, with a US$5 per tonne or 0.18 per cent drop.

SHFE 2305 aluminium closed down 0.13 per cent or RMB 25 per tonne at RMB 18,675 per tonne.  Open interest stood at 211,216 lots, down 5,275 lots.