LME aluminium price augments by US$52.5/t to US$2,442/t; SHFE price mounts to US$2,716/t

LME aluminium opened at US$2,409 per tonne on Tuesday and hit a high of US$2,459 per tonne before closing at US$2,396.5 per tonne, a drop of US$7 per tonne or 0.29 per cent.

On Tuesday, August 16, both LME aluminium cash bid price and LME aluminium official settlement price augmented by US$51 per tonne or 2.13 per cent and US$52.5 per tonne or 2.19 per cent to halt at US$2,440 per tonne and US$2,442 per tonne.

3-month bid price and 3-month offer price were hiked by US$58 per tonne or 2.43 per cent to settle at US$2,441 per tonne and US$2,443 per tonne.

December 23 bid price and December 23 offer price soared up by US$60 per tonne or 2.47 per cent and 2.46 per cent to peg at US$2,485 per tonne and US$2,490 per tonne.

LME aluminium opening stock for the same day closed at 275625 tonnes. Live warrants and Cancelled warrants were recorded at 171900 tonnes and 103725 tonnes.

LME aluminium 3-month Asian Reference Price went up by US$1.03 per tonne or 0.04 per cent to stand at US$2,405.77 per tonne.

SHFE aluminium price 

On Wednesday, August 17, the SHFE benchmark aluminium price surged by US$64 per tonne or 2.41 per cent to rest at US$2,716 per tonne.

The most-traded SHFE 2209 aluminium closed down 0.25 per cent or RMB 45 per tonne to RMB 18,225 per tonne, with open interest down 8,816 lots to 146,986 lots.

The most-traded SHFE 2209 aluminium contract opened at RMB 18,250 per tonne overnight, with its low and high at RMB 18,245 per tonne and RMB 18,440 per tonne before closing at RMB 18,370 per tonne, up RMB 380 per tonne or 2.14 per cent.