LME aluminium benchmark price begins the week hiking by US$17/t to US$2453/t; SHFE refusing change halts at US$2877/t

LME aluminium opened at US$2,455 per tonne on Monday and closed at US$2,488 per tonne, up US$38 per tonne or 1.55 per cent.

LME aluminium cash bid price stood at US$2,452.50 per tonne, with a 0.7 per cent or US$17 per tonne escalation on Monday, June 27. LME aluminium official settlement price halted at US$2,453 per tonne, experiencing an upward strike of 0.7 per cent or US$17 per tonne. 

3-month bid price grew by 1.18 per cent or US$29 per tonne to stand at US$2,479 per tonne, while the 3-month offer price experienced a US$29.50 per tonne or 1.2 per cent hike to begin the week at US$2480 per tonne. 

December 23 bid price stood and December 23 offer price climbed up by US$38 per tonne or 1.54 per cent to rest at US$2,500 per tonne and US$2,505 per tonne, respectively.

LME aluminium opening stock continued to decrease by 1.02 per cent or 3,950 tonnes from 388,750 tonnes to 384,800 tonnes, as of June 27.

Live warrants totalled 166,575 tonnes, showing no alteration for four days. Cancelled warrants read 218,225 tonnes, shrinking by 1.78 per cent from the previous week.

LME aluminium 3-month Asian Reference Price dropped 0.22 per cent or US$5.52 per tonne to stop at US$2458.37 per tonne.

SHFE aluminium price 

On Tuesday, June 28, the SHFE benchmark aluminium price has shown no change at all staying at US$2,877 per tonne, just like the previous day. 

The most-traded SHFE 2207 aluminium contract opened at RMB 19,285 per tonne overnight, with its low and high at RMB 19,215 per tonne and RMB 19,350 per tonne before closing at RMB 19,070 per tonne, up RMB 245 per tonne or 0.7 per cent.

The most-traded SHFE 2208 aluminium closed down 0.23 per cent or RMB 45 per tonne to RMB 19,135 per tonne, with open interest up 5,185 lots to 199,162 lots