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25 JUNE 2022 AL CIRCLE

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

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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.

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

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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.

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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.

Tagged with:

Price LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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