LME aluminium price dips lower at the year’s end with 6.19% M-o-M fall; SHFE maintains average status

The LME aluminium live price chart, on December 13, witnessed a linear movement in aluminium prices, with the LME aluminium cash bid price and the LME aluminium official price shedding US$7.50 per tonne or 0.36 per cent to officially close at US$2,082.50 per tonne and US$2,083 per tonne.

If we consider the price on November 13, one month ago, there has been a US$137.50 per tonne or 6.19 per cent month-on-month plunge from US$2,220.50 per tonne recorded that day. On a Year-on-Year scale, the aluminium price has significantly shrunk by US$305 per tonne or 12.77 per cent from US$2,388 per tonne registered on 13 December 2022. 

Throughout the year, the months of July and August saw constant instability in aluminium prices, with the price trying to recover in mid-October to find its depth again in December. It has been predicted that new protocols on aluminium trade by the Biden Government might balance LME aluminium prices next year. 

It was flashed on the London Metal Exchange graph that the 3-month bid price and the 3-month offer price decreased by US$13 per tonne or 0.61 per cent and US$12.50 tonne or 0.58 per cent, halting at US$2,123 per tonne and US$2,124 per tonne, respectively.