LME aluminium benchmark price hikes to US$2587/t; SHFE price inches down by US$1/t

On the previous trading day, LME aluminium opened at US$2,633.5 per tonne, reached a high of US$2,673 per tonne and a low of US$2,628.5 per tonne, and closed at US$2,647.5 per tonne, up US$12.5 per tonne, an increase of 0.47 per cent.

On Thursday, June 6, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$11 per tonne or 0.42 per cent and US$10 per tonne or 0.38 per cent after witnessing a drop for the past three days. The prices closed at US$2,586 per tonne and US$2,587 per tonne.

According to the LME data, the 3-month bid price and 3-month offer price also grew by US$20.5 per tonne or 0.78 per cent and US$20 per tonne or 0.76 per cent to stand at US$2,643.50 per tonne and US$2,644 per tonne, respectively.

December 25 bid price and December 25 offer price expanded by US$32 per tonne or 1.17 per cent to peg at US$2,760 per tonne and US$2,765 per tonne. LME aluminium opening stock came in at 1107500 tonnes.

Live warrants and Cancelled warrants closed at 583375 tonnes and 524125 tonnes. LME aluminium 3-month Asian Reference Price gained US$10.76 per tonne, settling at US$2,649.55 per tonne.

SHFE aluminium price

On Friday, June 7, SHFE aluminium benchmark price inched down by US$1 per tonne or 0.03 per cent to clock at US$2,930 per tonne. Overnight, the most-traded SHFE 2407 aluminium contract opened at RMB 21,265 per tonne, reaching a high of RMB 21,380 per tonne and a low of RMB 21,230 per tonne, and closed at RMB 21,375 per tonne, up RMB 150 per tonne, an increase of 0.71 per cent.