LME aluminium benchmark price dwindles by US$47.5/t; SHFE price nosedives by US$57/t

The previous trading day, LME aluminium opened at US$2,261 per tonne, reached a high of US$2,283 per tonne, a low of US$2,227 per tonne, and closed at US$2,262 per tonne, down US$1 per tonne, a decrease of 0.04 per cent.

On Monday, August 5, both LME aluminium cash bid price and LME aluminium official settlement price nosedived by US$47.5 per tonne or 2.14 per cent to clock at US$2,166.50 per tonne and US$2,167 per tonne.

3-month bid price and 3-month offer price declined by US$46 per tonne or 2.02 per cent to dock at US$2,226 per tonne and US$2,226.50 per tonne. December 25 bid price and December 25 offer price dwindled by US$50 per tonne or 2.05 per cent and 2.04 per cent to stand at US$2,385 per tonne and US$2,390 per tonne.

LME aluminium's opening stock was 921625 tonnes. Live warrants and Cancelled warrants arrived at 358175 tonnes and 563450 tonnes, respectively. The LME aluminium 3-month Asian Reference Price contracted by US$44.84 per tonne or 1.95 per cent to settle at US$2,250.09 per tonne.

SHFE aluminium price

On Tuesday, August 6, the SHFE aluminium benchmark price declined by US$57 per tonne or 2.12 per cent to clock at US$2,620 per tonne. The most-traded SHFE aluminium 2409 contract opened at RMB 18,785 per tonne overnight, reaching a high of RMB 18,920 per tonne and a low of RMB 18,755 per tonne, and closed at RMB 18,885 per tonne, down RMB 10 per tonne, a decrease of 0.05 per cent.