LME aluminium benchmark price contracts by US$57.5/t to US$2,374/t; SHFE price nosedives by US$122/t

LME aluminium fell below at US$2,400 per tonne on Tuesday and closed at US$2,369 per tonne.

On July 5, both LME aluminium cash bid price and LME aluminium official settlement price plunged by US$59 per tonne or 2.42 per cent and US$57.5 per tonne or 2.36 per cent to score at US$2,372 per tonne and US$2,374 per tonne.

3-month bid price and 3-month offer price also drifted downwards by US$63 per tonne or 2.57 per cent and US$64.5 per tonne or 2.63 per cent to settle at US$2,387 per tonne and US$2,387.50 per tonne.

December 23 bid price and December 23 offer price halted at US$2,423 per tonne and US$2,428 per tonne after witnessing a decline of US$65 per tonne.

LME aluminium opening stock closed at 362525 tonnes. Live warrants and Cancelled warrants for the same day were recorded at 158200 tonnes and 204325 tonnes.

LME aluminium 3-month Asian Reference Price inclined downwards by US$25.62 per tonne or 1.03 per cent to stand at US$2,438.81 per tonne.

SHFE aluminium price 

As of today, July 6, the SHFE benchmark aluminium price has nosedived by US$122 per tonne or 4.27 per cent to stop at US$2,733 per tonne.

The most-traded SHFE 2208 aluminium closed down 2.81 per cent or RMB 535 per tonne to RMB 18,485 with open interest up 11,742 lots to 193,265 lots.

The most-traded SHFE 2208 aluminium contract opened lower at RMB 18,340 per tonne overnight, and dropped to RMB 18,130 per tonne, a new low in 15 months.