LME aluminium benchmark price moves up to US$2,268/t; SHFE price drops by US$13/t

On Monday, LME aluminium opened at US$2,299 per tonne, with a high of US$2,331.5 per tonne, a low of US$2,297 per tonne, and closed at US$2,309 per tonne, up US$14 per tonne, or 0.61 per cent.

Following a surge of US$58.5 per tonne on Friday, August 9, both LME aluminium cash bid price and LME aluminium official settlement price witnessed a sluggish growth on Monday, August 13. As per the data, both LME aluminium cash bid price and LME aluminium official settlement price opened the week with a growth of US$4.5 per tonne or 0.19 per cent and US$5 per tonne or 0.22 per cent. The prices settled at US$2,267 per tonne and US$2,268 per tonne.

3-month bid price and 3-month offer price also moved up by US$2 per tonne or 0.08 per cent and US$2.5 per tonne or 0.10 per cent to clock at US$2,320 per tonne and US$2,321 per tonne. December 25 bid price and December 25 offer price, on the other hand, moved down by US$3 per tonne or 0.12 per cent to dock at US$2,465 per tonne and US$2,470 per tonne.

LME aluminium opening stock came in at 903600 tonnes. Live warrants and Cancelled warrants stood at 354800 and 548800 tonnes.  LME aluminium 3-month Asian Reference Price hiked by US$23.69 per tonne or 1.03 per cent to come in at US$2,316.80 per tonne.

SHFE aluminium price

On Tuesday, August 13, the SHFE aluminium benchmark price dropped by US$13 per tonne or 0.48 per cent, settling at US$2,653 per tonne. The most-traded SHFE aluminium contract 2409 opened at RMB 19,210 per tonne overnight, with a high of RMB 19,210 per tonne, a low of RMB 19,105 per tonne, and closed at RMB 19,140 per tonne, up RMB 17 per tonne, or 0.09 per cent.