On Tuesday, March 19, the LME aluminium cash bid price and LME aluminium official settlement price dropped by US$22 per tonne to settle at US$2,202 per tonne and US$2,202.50 per tonne, respectively.
As per the LME data, both 3-month bid price and 3-month offer price dipped by US$18 per tonne or 0.79 per cent and US$17.5 per tonne or 0.77 per cent to clock at US$2,254 per tonne and US$2,255 per tonne.
On the same day, both December 25 bid price and December 25 offer price fell by US$10 per tonne or 0.40 per cent to peg at US$2,467 per tonne and US$2,472 per tonne. LME aluminium opening stock arrived at 566425 tonnes. Live warrants and Cancelled warrants stood at 348750 tonnes and 217675 tonnes.
LME aluminium 3-month Asian Reference Price decreased by US$1.99 per tonne to halt at US$2,266.01 per tonne.
SHFE aluminium price
On March 20, the SHFE aluminium price lost US$7 per tonne or 0.26 per cent to reach US$2,676 per tonne. Overnight, the most-traded SHFE 2404 aluminium contract opened at RMB 19,160 per tonne, with its lowest and highest at RMB 19,150 per tonne and RMB 19,280 per tonne before closing at RMB 19,275 per tonne, up RMB 60 per tonne or 0.31 per cent.
LME clamps down on traders profiting from Russian aluminium amid sanction compliance
