LME aluminium benchmark price inches up by 2.14% to US$2438.5/t; SHFE gains US$35/t

LME aluminium opened at US$2,392.5 per tonne on Tuesday and closed at US$2,428 per tonne, up US$39.5 per tonne or 1.65 per cent.

LME aluminium cash bid price stopped at US$2,438 per tonne, with a 2.14 per cent or US$51 per tonne growth on Tuesday, August 23, while LME aluminium official settlement price rested at US$2,438.50 per tonne, experiencing a similar escalation.  

3-month bid price witnessed a 1.51 per cent or US$36 per tonne elevation to stand at US$2,416 per tonne, while the 3-month offer price witnessed a US$36.50 per tonne or 1.53 per cent boost to close at US$2,417 per tonne. 

December 23 bid price and December 23 offer price inched up the chart by US$33 per tonne or 1.36 per cent to rest at US$2,458 per tonne and US$2,463 per tonne, respectively.

LME aluminium opening stock continued to decrease by 0.68 per cent or 1,875 tonnes, from 273,325 tonnes to 271,450 tonnes as of August 23.

Live warrants totalled 172,375 tonnes, recording no alteration at all. 

Cancelled warrants read 99,075 tonnes, with a 1.86 per cent or 1,875 tonnes decline from the day before.

LME aluminium 3-month Asian Reference Price came in at US$2,390.01 per tonne, without any change in data.

SHFE aluminium price 

Today, on August 24, the SHFE benchmark aluminium price experienced a US$35 per tonne or 1.29 per cent increase to stand at US$2,750 per tonne, if compared with yesterday’s board. 

The most-traded SHFE 2209 aluminium contract opened at RMB 18,780 per tonne overnight and rose to RMB 18,950 per tonne before closing at RMB 18,840 per tonne, up RMB 155 per tonne or 0.83 per cent.

The most-traded SHFE 2209 aluminium closed up 0.78 per cent or RMB 145 per tonne to RMB 18,685 per tonne, with open interest down 2,629 lots to 129,135 lots.