LME aluminium benchmark price stoops by 1.49% to US$2376/t; SHFE marks US$19/t growth

LME aluminium opened at US$2,404 per tonne last Friday, with its high and low at US$2,411 per tonne and US$2,375 per tonne respectively before closing at US$2,393.5 per tonne, a drop of US$11.5 per tonne or 0.48 per cent.

LME aluminium cash bid price stopped at US$2,375.50 per tonne, with a 1.43 per cent or US$34.50 per tonne decline to close the week on Friday, August 19, while LME aluminium official settlement price rested at US$2,376 per tonne, experiencing a drop of US$36 per tonne or 1.49 per cent.   

3-month bid price fell by 1.66 per cent or US$40 per tonne to stand at US$2,373 per tonne, while the 3-month offer price stooped to US$2,373.50 per tonne with a 1.68 per cent or US$40.50 per tonne downfall.  

December 23 bid price and December 23 offer price decreased by US$41 per tonne or 1.66 per cent to rest at US$2,417 per tonne and US$2,422 per tonne, respectively.

LME aluminium opening stock saw a fall of 0.27 per cent or 750 tonnes, from 274,525 tonnes to 273,775 tonnes as of August 19.

Live warrants totalled 169,900 tonnes, with a spike of 1,275 tonnes or 0.75 per cent.   

Cancelled warrants read 102,600 tonnes, shrinking by 1.93 per cent or 2,050 tonnes from the previous day.

LME aluminium 3-month Asian Reference Price had increased by 0.36 per cent or US$8.64 per tonne, stopping at US$2,392.49 per tonne.

SHFE aluminium price 

Today, on August 22, the SHFE benchmark aluminium price experienced a US$19 per tonne or 0.7 per cent rise to stand at US$2,724 per tonne, if compared with data collected on Friday, last week. 

The most-traded SHFE 2209 aluminium contract opened at RMB 18,400 per tonne at last Friday’s night session, with its low and high at RMB 18,355 per tonne and RMB 18,565 per tonne before closing up RMB 105 per tonne or 0.57 per cent.

The most-traded SHFE 2209 aluminium closed down 0.75 per cent or RMB 140 per tonne to RMB 18,425 per tonne, with open interest down 8,658 lots to 137,944 lots.