Three-month LME aluminium stood three-week low at $1804/t this week; SHFE declined to $2186/t

On Monday, October 26, three-month LME aluminium shed 1.11 per cent to settle at US$ 1,822 per tonne. On Tuesday, it hit the lowest in more than two weeks at US$1,812 per tonne earlier in the session, closing down 0.05% to come in at US$1,821 per tonne. On Wednesday, October 28, the price closed further 0.52 per cent lower at US$ 1,811.5 per tonne, which on Thursday, October 29, dropped to a three-week low at US$1,804 per tonne.

LME aluminium cash (bid) price and LME official settlement price started the week on Monday, October 26, lower at US$ 1822.50 versus US$ 1829 per tonne on October 23. On Tuesday, October 27, both the prices fell sharply to stand at US$ 1808 per tonne, which on Wednesday declined further to US$ 1801 per tonne. On Thursday, October 29, both LME aluminium cash (bid) price and LME official settlement price extended decline to US$ 1786 per tonne but rebounded significantly to US$ 1820.50 per tonne on Friday, October 30.

3-months bid price and 3-months offer price also started the week on October 26 with a decrease from US$ 1842.50 per tonne to US$ 1837.50 per tonne. On October 27, they stood at US$ 1823 per tonne and then declined further to US$ 1815 per tonne, as of Wednesday, October 28. On October 29, both 3-months bid price and 3-months offer price extended downfall to stand at US$ 1795.50 per tonne. However, they rebounded on October 30 to come in at US$ 1823.50 per tonne.

Dec 21 bid price and Dec 21 offer price ended the week on Friday, October 30, at US$ 1869 per tonne after declining incessantly in the past four days. On Monday, October 26, the prices decreased from US$ 1895.50 per tonne to US$ 1890.50 per tonne, which on Tuesday, plunged further to US$ 1873.50. On Wednesday, October 28, the prices stood at US$ 1865 per tonne and further down at US$ 1843.50 per tonne on Thursday, October 29.

The LME aluminium opening stock hovered between 1473900 tonnes and 1462925 tonnes.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE during October 26-30 displayed a downtrend from US$ 2205 per tonne to US$ 2186 per tonne. On Tuesday, the price plunged from US$ 2205 per tonne to US$ 2200 per tonne, which on Wednesday declined further to US$ 2173 per tonne. On Thursday, October 29, the price decreased to US$ 2158 per tonne but grew the next day, October 30, to US$ 2186 per tonne.