Navigating the Fluctuating Aluminium Market: A Recap of Recent Trends

by GlassBalkan
0 comment 2 minutes read

In the realm of commodities, the aluminium market has been a focal point of attention, with recent fluctuations in prices sparking interest and analysis among industry players.

Let’s delve into the latest developments that have shaped the landscape of aluminium trading in recent days.

LME Aluminium Performance

On Tuesday, the London Metal Exchange (LME) aluminium market saw a dynamic trading day, opening at US$2,573 per tonne and experiencing a range of US$2,547 to US$2,593 per tonne before settling at US$2,568.5 per tonne, marking a 0.69% increase. The benchmark price inched up by US$2.5/t, while the SHFE price witnessed a slump to US$2,826/t.

Price Movements and Settlements

Both the LME aluminium cash bid price and official settlement price saw positive movements, increasing by US$3 per tonne and US$2.5 per tonne, respectively, to settle at US$2,512 per tonne and US$2,512.50 per tonne. The 3-month bid and offer prices also showed an upward trend, climbing by US$5 per tonne to US$2,557.50 per tonne and US$2,558.50 per tonne. Additionally, the December 25 bid and offer prices rose by US$8 per tonne to reach US$2,690 per tonne and US$2,695 per tonne.

Stock and Price Analysis

The LME aluminium opening stock remained steady at 486,050 tonnes, with live warrants and cancelled warrants settling at 220,000 tonnes and 266,050 tonnes. However, the LME aluminium 3-month Asian Reference Price experienced a decline of US$17.88 per tonne, standing at US$2,566.58 per tonne.

SHFE Aluminium Market

Turning our focus to the Shanghai Futures Exchange (SHFE), the aluminium benchmark price witnessed a notable drop of US$38 per tonne to settle at US$2,826 per tonne on Wednesday. The most-traded SHFE 2406 aluminium contract opened at RMB 20,600 per tonne, with fluctuations throughout the trading day leading to a closing price of RMB 20,585 per tonne, down RMB 50 per tonne or 0.24%.

Conclusion

The recent movements in the aluminium market, both on the LME and SHFE, reflect the dynamic nature of commodity trading. As industry participants navigate these fluctuations, staying informed about price trends, stock levels, and market dynamics becomes crucial for making informed decisions. The insights gleaned from these developments can provide valuable perspectives for stakeholders seeking to leverage market opportunities and manage risks effectively in the aluminium sector.

In conclusion, the aluminium market continues to present a mix of challenges and opportunities, underscoring the importance of vigilance and strategic decision-making in today’s evolving commodity landscape.

 

 

Source: GlassBalkan

You may also like

Leave a Comment

By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Accept All Cookies Cookies Policy