LME benchmark aluminium price suffers a fall of 1.28%; SHFE goes down by US$30/t

LME aluminium opened at US$2,169 per tonne on Monday and closed at US$2,134 per tonne down US$33 per tonne or 1.52 per cent.

LME aluminium cash bid price has slumped by US$27 per tonne or 1.25 per cent to settle at US$2,125 per tonne, and LME aluminium official settlement price has dipped by US$27.50 per tonne or 1.28 per cent to rest at US$2,125.50 per tonne to begin the week on Monday, September 26.  

3-month bid price has dropped by 1.2 per cent or US$26 per tonne to stand at US$2,145 per tonne, while the 3-month offer price has witnessed a US$26.50 per tonne or 1.2 per cent loss, closing at US$2,145.50 per tonne. 

December 23 bid price and December 23 offer price both dived down by 1.27 per cent or US$29 per tonne, stopping at US$2,243 per tonne and US$2,248 per tonne, respectively.

LME aluminium opening stock continued to decrease by 0.44 per cent or 1,500 tonnes, from 340,350 tonnes to 338,850 tonnes as of September 26.

Live warrants totalled 272,950 tonnes, suffering a loss of 1.21 per cent or 3,350 tonnes. 

Only cancelled warrants read 65,900 tonnes, gaining 2.89 per cent or 1,850 tonnes from the week before.

LME aluminium 3-month Asian Reference Price came in at US$2,143.69 per tonne after 2.9 per cent, or US$64.89 per tonne, got subtracted from it.

SHFE aluminium price 

Today, on September 27, the SHFE benchmark aluminium price has plunged by US$30 per tonne or 1.61 per cent to arrive at US$2,552 per tonne, if compared with yesterday’s data.

The most-traded SHFE 2210 aluminium contract opened at RMB 18,275 per tonne overnight and rose to RMB 18,415 per tonne before closing at RMB 18,260 per tonne, up RMB 185 per tonne or 1.02 per cent.

The most-traded SHFE 2210 aluminium closed down 3.52 per cent or RMB 660 per tonne to RMB 18,075 per tonne, with open interest down 21,215 lots to 110,593 lots.