LME aluminium benchmark price hits three-month low owing to heavy supply; SHFE price falls by US$4/t

3-month bid price and 3-month offer price slumped by US$31 per tonne or 1.25 per cent and US$31.5 per tonne or 1.27 per cent to clock at US$2,436 per tonne and US$2,436.50 per tonne. December 25 bid price and December 25 offer price also descended by US$30 per tonne or 1.14 per cent to dock at US$2,592 per tonne and US$2,597 per tonne.

LME aluminium opening stock came in at 965550 tonnes. Live warrants and Cancelled warrants closed at 405475 tonnes and 560075 tonnes. LME aluminium 3-month Asian Reference Price also dropped by US$13.25 per tonne or 0.53 per cent to reside at US$2,451.91 per tonne.