LME benchmark aluminium price registers linear growth in 2023, down 13.54% Y-o-Y; SHFE aluminium loses 1.29% today

On December 4, the LME aluminium live price chart registered a slight spike in aluminium prices, with the LME aluminium cash bid price and the LME aluminium official price gaining US$1 per tonne or 0.05 per cent to officially close at US$2,148 per tonne and US$2,148.50 per tonne.

As we enter the last month of 2023, it should be mentioned the LME aluminium market could not recover from the constant geo-political digression and the highest price was witnessed at the beginning of the year, January 18, when the aluminium price stood at US$2,636 per tonne. The average aluminium price calculated for the entire year is US$2,289.95 per tonne, which is not even close to the US$2,500 mark.

If we consider the LME aluminium price on December 5, last year, we can find a Year-on-Year plunge of US$336.50 per tonne or 13.54 per cent from US$2,485 per tonne recorded that day.

London Metal Exchange graph displayed that the 3-month bid price and the 3-month offer price on December 4 added US$4.50 per tonne or 0.21 per cent and US$3.50 tonne or 0.16 per cent, halting at US$2,187.50 per tonne and US$2,188.50 per tonne, respectively.

The December 24 bid price and the December 24 offer price got boosted by US$5 per tonne or 0.22 per cent, stopping at US$2,305 per tonne and US$2,310 per tonne.