LME aluminium benchmark price contracts by US$36.5/t; SHFE price drops to US$2775/t
The previous trading day, LME aluminium opened at US$2,495.5 per tonne, reached a high of US$2,501.5 per tonne, a low of US$2,476.5 per tonne, and closed at US$2,478 per tonne, down US$19 per tonne from the previous trading day's closing price, a decrease of 0.76 per cent.
On Wednesday, July 10, both LME aluminium cash bid price and LME aluminium official settlement price declined by US$37 per tonne or 1.49 per cent and US$36.5 per tonne or 1.47 per cent to settle at US$2,431 per tonne and US$2,432 per tonne.
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Based on the LME aluminium price graph, both 3-month bid price and 3-month offer price dwindled by US$36 per tonne or 1.42 per cent to clock at US$2,489 per tonne and US$2,489.50 per tonne. December 25 bid price and December 25 offer price slumped by US$32 per tonne or 1.19 per cent to settle at US$2,648 per tonne and US$2,653 per tonne.
LME aluminium opening stock came in at 987025 tonnes. Live warrants and Cancelled warrants stood at 446575 tonnes and 540450 tonnes. LME aluminium 3-month Asian Reference Price contracted by US$48.17 per tonne or 1.90 per cent to peg at US$2,482.73 per tonne.
SHFE aluminium price
On Thursday, July 11, the SHFE aluminium benchmark price decreased by US$7 per tonne or 0.25 per cent to halt at US$2,775 per tonne. Overnight, the most-traded SHFE 2408 aluminium contract opened at RMB 20,140 per tonne, reached a high of RMB 20,265 per tonne, a low of RMB 20,140 per tonne, and closed at RMB 20,170 per tonne, up RMB 70 per tonne from the previous trading day, an increase of 0.35 per cent.
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