LME aluminium benchmark price loses US$8.5/t on mixed trade numbers; SHFE declines by US$8/t

LME aluminium opened at US$2,633.50 per tonne, reached a high of US$2,673 per tonne and a low of US$2,628.50 per tonne, and closed at US$2,647.50 per tonne, up US$12.50 per tonne or 0.47 per cent.

On Friday, June 7, LME aluminium cash bid and LME aluminium official settlement price decreased by US$8 per tonne and US$8.5 per tonne, respectively, to close the week at US$2,578 per tonne and US$2,578.50 per tonne.

The LME aluminium benchmark price fell on mixed trade numbers and a rise in the US dollar.

On the same day, 3-month bid price and 3-month offer price shrunk by US$15.5 per tonne and US$15 per tonne to settle at US$2,628 per tonne and US$2,629 per tonne. December-25 bid price and December-25 offer price stood at US$2,737 per tonne and US$2,742 per tonne, down by US$23 per tonne from US$2,760 per tonne and US$2,765 per tonne on June 6.

On June 7, LME aluminium opening stock amounted to 1,103,500 tonnes, registering a fall of 4,000 tonnes from 1,107,500 tonnes on the previous day. Live warrants and Cancelled warrants stood at 583375 tonnes and 520125 tonnes at the end of the week.

LME aluminium 3-month Asian Reference Price slipped US$6.31 per tonne to settle at US$2,643.24 per tonne.

 SHFE aluminium price

On Monday, June 10, SHFE aluminium benchmark price witnessed a fall of US$8 per tonne or 0.26 per cent to start the week US$2,922 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.