LME benchmark aluminium price loses US$11.50/t; SHFE aluminium price sheds US$11/t mid-November
LME aluminium opened at US$2233 per tonne in the previous trading day, with its low and high at US$2211.5 per tonne and US$2234 per tonne, respectively, before closing at US$2211.5 per tonne, down US$23.5 per tonne or 1.05 per cent.
The LME aluminium live price chart on November 16 witnessed dampening aluminium price trends, with the LME aluminium cash bid price and the LME aluminium official price shedding US$11.50 per tonne or 0.52 per cent to officially close at US$2,182 per tonne and US$2,182.50 per tonne.
It must be mentioned that due to a technical glitch, AL Circle could not fetch LME’s data for November 15, so the comparison has been conducted with the last available data, which was on November 14.
London Metal Exchange graph displayed that the 3-month bid price and the 3-month offer price skipped upwards by US$1 per tonne or 0.04 per cent and US$1.50 per tonne or 0.07 per cent to stop at US$2,219 per tonne and US$2,220 per tonne, respectively.
The December 24 bid price and the December 24 offer price have lost US$4 per tonne or 0.17 per cent, anchoring at US$2,333 per tonne and US$2,338 per tonne.
LME aluminium opening stock marked a substantial downfall of 3,775 tonnes or 0.77 per cent, arriving at 483,800 tonnes. Live warrants stood at 212,875 tonnes, with an inventory spike of 249 tonnes. Cancelled warrants halted at 270,925 tonnes, with a slump of 4,025 tonnes.
LME aluminium 3-month Asian Reference Price stopped at US$2,229.93 per tonne, up US$3.93 per tonne or 0.18 per cent.
SHFE aluminium price
On November 17, today, the Shanghai Futures Exchange (SHFE) aluminium price chart registered a dip in aluminium prices, with the official SHFE price halting at US$2,601 per tonne, following a US$11 per tonne or 0.42 per cent fall.
The most-traded SHFE 2312 aluminium contract opened at RMB 18980 per tonne at Thursday’s night session, with its low and high at RMB 18835 per tonne and RMB 18980 per tonne before closing at RMB 18845 per tonne, down RMB 120 per tonne, or 0.63 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.