LME aluminium benchmark price drops by US$20/t; SHFE price loses US$11/t

On Wednesday, May 22, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$19 per tonne or 0.71 per cent and US$20 per tonne or 0.75 per cent to settle at US$2,624 per tonne and US$2,625 per tonne. 

3-month bid price and 3-month offer price contracted by US$31 per tonne or 1.14 per cent to stand at US$2,672.50 per tonne and US$2,673 per tonne. December 25 bid price and December 25 offer price also dwindled by US$43 per tonne or 1.52 per cent to clock at US$2,772 per tonne and US$2,777 per tonne.

LME aluminium opening stock came in at 1125175 tonnes. Live warrants and Cancelled warrants stood at 607975 tonnes and 517200 tonnes. LME aluminium 3-month Asian Reference Price surged by US$98.22 per tonne or 3.72 per cent to halt at US$2735.12 per tonne.