LME aluminium benchmark price closes the week with a drop of US$6.5/t; SHFE price declines by US$43/t W-o-W

The previous trading day, LME aluminium opened at US$2,481 per tonne, reached a high of US$2,489.5 per tonne, a low of US$2,465 per tonne, and closed at US$2,489.5 per tonne, up US$13 per tonne, an increase of 0.52 per cent.

On Friday, July 12, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$7 per tonne or 0.28 per cent and US$6.5 per tonne or 0.26 per cent. The prices stood at US$2,421 per tonne and US$2,422 per tonne.  The LME aluminium benchmark price also witnessed a W-o-W decline of US$73 per tonne or 2.94 per cent from US$2,495.5 per tonne.

As per the LME price graph, 3-month bid price and 3-month offer price also slumped by US$7 per tonne or 0.28 per cent and US$6.5 per tonne or 0.26 per cent to dock at US$2,483 per tonne and US$2,484 per tonne.

December 25 bid price and December 25 offer price also slipped by US$5 per tonne or 0.18 per cent to settle at US$2,643 per tonne and US$2,648 per tonne. LME aluminium opening stock came in at 976725 tonnes.

Live warrants and Cancelled warrants stood at 445975 tonnes and 530750 tonnes. LME aluminium 3-month Asian Reference Price declined byUS$17.09 per tonne or 0.68 per cent to settle at US$2,470.02 per tonne.

SHFE aluminium price

On Friday, July 15, the SHFE aluminium benchmark price ascended by US$11 per tonne or 0.40 per cent to clock at US$2,748 per tonne. W-o-W, the prices have dwindled by US$43 per tonne or 1.54 per cent from US$2,791 per tonne.

Last Friday night, the most-traded SHFE aluminium 2408 contract opened at RMB 20,055 per tonne, reached a high of RMB 20,095 per tonne and a low of RMB 19,925 per tonne, and closed at RMB 20,085 per tonne, up RMB 15 per tonne, an increase of 0.07 per cent.