LME aluminium benchmark price slumps by US$30.5/t to US$2,426/t; SHFE price closes at US$2,657/t

The LME aluminium price on Thursday opened at US$2,427 per tonne, closed at US$2,439.5 per tonne, and increased by US$17.5 or 0.72 percent.

On Thursday, July 21, the LME aluminium cash bid price slipped by US$32 per tonne or 1.30 per cent to settle at US$2,424 per tonne after witnessing a hike the previous day. LME aluminium official settlement price slumped by US$30.5 per tonne or 1.24 per cent to halt at US$2,426 per tonne.

3-month bid price and 3-month offer price declined by US$22 per tonne or 0.89 per cent and US$23 per tonne or 0.93 per cent to peg at US$2,424 per tonne and US$2,425 per tonne.

On the same day, December 23 bid price and December 23 offer price settled at US$2,458 per tonne and US$2,463 per tonne, after witnessing a drop of US$12 per tonne or 0.48 per cent.

LME aluminium opening stock was recorded at 317275 tonnes. Live warrants and Cancelled warrants for the same day scored at 152800 tonnes and 164475 tonnes.

LME aluminium 3-month Asian Reference Price, on the other hand, grew by US$18.15 per tonne or 0.75 per cent to halt at US$2,425.50 per tonne.

SHFE aluminium price

As of July 22, the SHFE benchmark aluminium price remained restrained to close at US$2,657 per tonne.

The most-traded SHFE 2208 aluminium closed up 0.31 per cent or RMB 55 per tonne to RMB 17,945 per tonne, with open interest down 6,812 lots to 108,457 lots.

The most-traded SHFE 2208 aluminium contract opened at RMB 17,905 per tonne overnight and rose to RMB 17,990 per tonne before closing at RMB 17,915 per tonne, down RMB 90 per tonne or 0.5 per cent.