LME aluminium benchmark price heightens by US$17.50/t to begin week; SHFE plummets US$43/t

LME aluminium opened at US$2,481.5 per tonne on Monday and closed at US$2,450 per tonne, a drop of US$32.5 per tonne or 1.31 per cent.

LME aluminium cash bid price stopped at US$2,469 per tonne, with a 0.77 per cent or US$19 per tonne escalation to begin the week on August 1, while LME aluminium official settlement price rested at US$2,469.50 per tonne, experiencing a price hike of 0.71 per cent or US$17.50 per tonne.

3-month bid price and 3-month offer price grew by 0.41 per cent or US$10 per tonne to stand at US$2,447.50 per tonne and US$2,488 per tonne.

December 23 bid price and December 23 offer price climbed up the graph by US$9 per tonne or 0.36 per cent to rest at US$2,487 per tonne and US$2,492 per tonne, respectively.

LME aluminium opening stock continued to decrease by 1 per cent or 2,900 tonnes, from 291,025 tonnes to 288,125 tonnes as of August 1.

Live warrants totalled 145,350 tonnes, failing to show any change.

Cancelled warrants read 142,775 tonnes, shrinking by 2 per cent or 2,900 tonnes from the previous week.

LME aluminium 3-month Asian Reference Price had 0.84 per cent, or US$20 per tonne added to it, stopping at US$2,453.02 per tonne.

SHFE aluminium price

Today, on August 2, the SHFE benchmark aluminium price rose by US$43 per tonne or 1.58 per cent to stand at US$2,684 per tonne, if compared with data collected yesterday.

The most-traded SHFE 2209 aluminium contract opened at RMB 18,190 per tonne Monday night session and rose to RMB 18,240 per tonne before closing at RMB 8,210 per tonne, down RMB 5 per tonne or 0.03 per cent.

The most-traded SHFE 2209 aluminium closed down 2.54 per cent or RMB 475 per tonne to RMB 18,205 per tonne, with open interest down 5,558 lots to 174,975 lots