SHFE aluminium price resumes from the New Year Holiday with a drop of $2/t to $2396/t on January 4

Shanghai aluminium price resumed from the New Year Holiday on Monday, January 4, with a dip of 0.08 per cent from US$ 2398 per tonne to US$ 2396 per tonne. LME aluminium on Friday, January 1, was closed.

As of last Thursday, December 31, LME aluminium cash (bid) price and LME official settlement price stood at US$ 1978 per tonne, declining by US$ 17.50 per tonne from US$ 1995.50 per tonne. 3-months bid price and 3-months offer price came in at US$ 1980.50 per tonne, down by US$ 23.50 per tonne from US$ 2004 per tonne on December 30. Dec 21 bid price and Dec 21 offer price hovered at US$ 2008 per tonne.

LME aluminium 3-months Asian Reference stood at US$ 1993 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE extended drop by US$ 2 per tonne to US$ 2396 per tonne on the first day after market reopens from the New Year holiday, as of Monday, January 4.

The most-liquid SHFE 2102 aluminium contract finished the day 0.1 per cent lower at RMB 15,460 per tonne. Open interest fell 1,349 lots to 112,085 lots.