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04 SEPTEMBER 2023 AL CIRCLE

LME aluminium benchmark price rallies up for four days to US$2184/t; SHFE aluminium price eliminates US$2/t

EDITED BY : MAYURAKSHI GANGULY 2MINS READ

LME aluminium opened at US$2,206 per tonne on Friday, with its high and low at US$2,260 per tonne and US$2,206 per tonne, respectively, before closing at US$2,237 per tonne.

LME aluminium benchmark price rallies up for four days to US$2184/t; SHFE aluminium price eliminates US$2/t

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The LME aluminium live price chart on September 1 witnessed growing aluminium prices, with the LME aluminium cash bid price and the LME aluminium official price gaining US$18.50 per tonne or 0.85 per cent to officially close at US$2,183.50 per tonne and US$2,184 per tonne, respectively. 

London Metal Exchange graph showed that the 3-month bid price and the 3-month official price have spiked by US$30 per tonne or 1.36 per cent to close at US$2,233.50 per tonne and US$2,234 per tonne. 

The December 24 bid price and the December 24 official price have both increased by US$23 per tonne or 0.97 per cent to settle at US$2,375 per tonne and US$2,380 per tonne. 

LME aluminium opening stock recorded a substantial drop of 7,350 tonnes or 1.42 per cent to arrive at 508,400 tonnes. Live warrants stood at 225,350 tonnes, and cancelled warrants stabilised at 283,050 tonnes.

LME aluminium 3-month Asian Reference Price halted at US$2,241.38 per tonne, up US$30.38 per tonne or 1.37 per cent.

Heat Treatment

SHFE aluminium price

Today, on September 4, the Shanghai Futures Exchange (SHFE) aluminium benchmark price has released US$2 per tonne or 0.07 per cent to settle at US$2,671 per tonne. 

Last Friday night, the most-traded SHFE 2310 aluminium contract opened at RMB 19,330 per tonne, with the lowest and highest prices at RMB 19,220 per tonne and RMB 19,585 per tonne before closing at RMB 19,365 per tonne, up RMB 35 per tonne or 0.18 per cent from the previous trading day. 

SHFE 2307 aluminium added RMB 595 per tonne or 3.38 per cent to RMB 18,185 per tonne. The open interest fell 11,785 lots to 256,640 lots. 

Tagged with:

Price LME China

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EDITED BY : MAYURAKSHI GANGULY 2MINS READ

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