LME aluminium price closed 1.25% higher to reach above US$2500/t; SHFE price stood at US$2987/t

Three-month LME aluminium fell 0.36 per cent to close at US$ 2,517 per tonne on Wednesday. It is expected that the contract will trade between US$ 2,480-2,550 per tonne today. 

LME aluminium cash (bid) price and LME official settlement price grew further by US$ 31 per tonne or 1.25 per cent to stand at US$ 2,509 per tonne on Wednesday, July 14. 3-months bid price and 3-months offer price increased by US$ 34 per tonne from US$ 2,492.50 per tonne to US$ 2,526.50 per tonne. Dec 22 bid price and Dec 22 offer price stood at US$ 2,506.50 per tonne against US$ 2,476 per tonne.

LME aluminium opening stock reduced from 1480150 tonnes to 1472800 tonnes. Live Warrants totalled 897275 tonnes, while Cancelled Warrants closed at 575525 tonnes.

Meanwhile, LME aluminium 3-months Asian Reference Price hovered around US$ 2,531.92 per tonne as of July 14.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE continued to increase to reach at US$ 2,987 per tonne on Thursday, July 15.

The most traded SHFE 2108 aluminium contract ended 1.72 per cent higher at RMB 19,510 per tonne today, with open interest up 7,307 lots to 221,591 lots.

The most-liquid SHFE 2108 aluminium contract rose 0.31 per cent to settle at RMB 19,320 per tonne on Wednesday night. It is expected that the contract will trade between RMB 19,100-19,500 per tonne today.