LME aluminium hits 2-week low as China’s manufacturing activity slows down in August; SHFE price slumps by US$50/t

On Monday, LME aluminium opened at US$2,449.5 per tonne, hit a high of US$2,456.5 per tonne and a low of US$2,411 per tonne, and closed at US$2,424 per tonne, down US$22 per tonne, or 0.90 per cent.

As per the LME data, on Monday, August 2, aluminium prices dropped to a two-week low following data revealing a continued slowdown in factory activity in China, the world's largest consumer, during August.

Both LME aluminium cash bid price and LME aluminium official settlement price nosedived by US$73 per tonne or 2.96 per cent to clock at US$2,390 per tonne and US$2,390.50 per tonne.  3-month bid price and 3-month offer price contracted by US$70 per tonne or 2.81 per cent and US$70.5 per tonne or 2.83 per cent to arrive at US$2415 and US$2415.50 per tonne.

December 25 bid price and December 25 offer price declined by US$75 per tonne to dock at US$2,538 per tonne and US$2,543 per tonne.

LME aluminium opening stock came in at 847425 tonnes. Live warrants and Cancelled warrants stood at 345300 tonnes and 502125 tonnes.

LME aluminium 3-month Asian Reference Price slumped by US$61.81 per tonne or 2.48 per cent to arrive at US$2,427.40 per tonne.

SHFE aluminium price

On Tuesday, September 3, the SHFE aluminium benchmark price has plunged by US$50 per tonne to peg at US$2,734 per tonne. Overnight, the most-traded SHFE aluminium 2410 contract opened at RMB 19,505 per tonne, reaching a high of RMB 19,580 per tonne and a low of RMB 19,485 per tonne, and closed at RMB 19,565 per tonne, up RMB 15 per tonne, or 0.08 per cent.

Note: We are pleased to announce that the AL Circle website now includes CME (Futures) aluminium prices in addition to the previously available LME and SHFE aluminium prices. We invite you to explore this expanded offering in our price section for the most comprehensive and up-to-date aluminium pricing information.