LME aluminium benchmark price slumps by US$13/t to US$2,384/t; SHFE price hikes by US$23/t

LME aluminium opened at US$2,435 per tonne last Friday and fell to US$2,380 per tonne before closing at US$2,468 per tonne, an increase of US$24.5 per tonne or 1 per cent.

On Friday, July 1, both LME aluminium cash bid price and LME aluminium official settlement price slipped by US$13.5 per tonne or 0.56 per cent and US$13 per tonne or 0.54 per cent to halt at US$2,383 per tonne and US$2,384 per tonne.

3-month bid price and 3-month offer price also dropped by US$21.5 per tonne or 0.88 per cent and US$21 per tonne or 0.86 per cent to settle at US$2,399 per tonne and US$2,400 per tonne.

December 23 bid price and December 23 offer price plunged by US$14 per tonne to stop at US$2,438 per tonne and US$2,443 per tonne.

LME aluminium opening stock settled at 369675 tonnes. Live warrants and Cancelled warrants closed at 158200 tonnes and 211475 tonnes.

LME aluminium 3-month Asian Reference Price also slumped by US$51.95 per tonne or 2.11 per cent to record at US$2,407.01 per tonne.

SHFE aluminium price 

Today, on July 4, the SHFE benchmark aluminium price recorded a hike of US$23 per tonne or 0.81 per cent to stand at US$2,862 per tonne.

The most-traded SHFE 2208 aluminium closed down 1.61 per cent or RMB 310 per tonne to RMB 18,900 per tonne, with open interest up 259 lots to 182,120 lots.

The most-traded SHFE 2208 aluminium contract opened at RMB 18,905 per tonne at last Friday's night trading session and touched a low of RMB 18,810 per tonne before closing at RMB 18,980 per tonne.