LME aluminium benchmark price shrinks by US$16/t closing at US$2358/t; SHFE suffers a loss of US$6/t

LME aluminium opened at US$2,375 per tonne on Wednesday and rose to US$2,423 per tonne before closing at US$2,400 per tonne, an increase of US$31 per tonne or 1.31 per cent.

LME aluminium cash bid price stood at US$2,357 per tonne, with a 0.63 per cent or US$15 per tonne slump, according to London Metal Exchange. LME aluminium official settlement price halted at US$2,358 per tonne, experiencing a downfall of 0.67 per cent or US$16 per tonne on July 6. 

3-month bid price decreased by 0.33 per cent or US$8 per tonne, coming in at US$2,379 per tonne. 3-month offer price stood at US$2,380 per tonne with a 0.31 per cent or US$7.50 per tonne loss.

December 23 bid price and December 23 offer price shed US$1 per tonne or 0.04 per cent, closing at US$2,422 per tonne and US$2,427 per tonne, respectively.

LME aluminium opening stock continued to decrease by 1.21 per cent or 4,400 tonnes from 362,525 tonnes to 358,125 tonnes as of July 6.

Live warrants totalled 158,200 tonnes, witnessing no alteration at all. Cancelled warrants read 199,925 tonnes after 4,400 tonnes or 2.15 per cent was lost.

The LME aluminium 3-month Asian Reference Price decreased by 2.14 per cent or US$52.29 per tonne to stop at US$2,386.52 per tonne.

SHFE aluminium price 

Today, on July 7, the SHFE benchmark aluminium price has lost US$6 per tonne or 0.22 per cent to stand at US$2,727 per tonne, if compared with data collected yesterday.

The most-traded SHFE 2208 aluminium contract opened at RMB 18,330 per tonne overnight before closing at RMB 18,340 per tonne, up RMB 130 per tonne or 0.71 per cent.

The most-traded SHFE 2208 aluminium closed down 2.53 per cent or RMB 475 per tonne to RMB 18,330 per tonne, with open interest down 10,630 lots to 182,636 lots