LME aluminium benchmark price slid through the week by US$26/t to US$2436/t; SHFE price closed lower at US$2868/t

The LME aluminium prices have ended this week lower at around US$2,436 per tonne, but with some intermittent hikes. On Monday, June 20, LME aluminium cash bid price dropped by US$12.5 per tonne to US$2,461 per tonne and LME aluminium official settlement price decreased by US$12 per tonne to US$2,462 per tonne. But the next day, on June 21, both the prices augmented by US$57.50 per tonne to US$2,518.50 per tonne and US$2,519.50 per tonne, respectively. However, the prices slipped on an alternate day again by US$63.50 per tonne and US$64 per tonne to settle at US$2,455 per tonne and US$2,455.50 per tonne, and escalated sequentially to US$2,478 per tonne and US$2,480 per tonne, as of June 23. On Friday, June 24, the prices finally closed at US$2,435 per tonne and US$2,436 per tonne, down by US$26 per tonne from Monday.

3-month bid price and 3-month offer price also initiated the week, on June 20, with a fall of US$20 per tonne and US$21 per tonne but built up the next day to US$2,530 per tonne and US$2,532 per tonne. On June 22, the prices shrank by US$60.50 per tonne and US$62 per tonne to come in at US$2,469.50 per tonne and US$2,470 per tonne, and again grew the next day by 1 per cent to US$2,493 per tonne and US$2,494 per tonne. On Friday, June 24, 3-month bid price and 3-month offer price halted at US$2,450 per tonne and US$2,450.50 per tonne, respectively.

December 23 bid price and December 23 offer price closed the week lower by US$36 per tonne from US$2,498 per tonne and US$2,503 per tonne on Monday to US$2,462 per tonne and US$2,467 per tonne on Friday.

LME aluminium opening stock continued to decrease from 404450 tonnes on June 20 to 388750 tonnes on June 24.

SHFE aluminium price 

The benchmark aluminium price for SHFE also slid through the week, ending at US$2,868 per tonne on June 24. It began the week with an increase of US$14 per tonne to US$2,961 per tonne and remained restrained the next day. But from Wednesday, June 22, the price started declining to US$2,944.83 per tonne and further shrank by US$52.83 per tonne to settle at US$2,892 per tonne on June 23. On June 24, the SHFE price stooped down by US$24 per tonne to rest at US$2,868 per tonne.