LME aluminium price closed Tuesday trading up at US$2714/t; SHFE price slipped by US$13/t to US$3278/t

Three-month LME aluminium rose 1.98 per cent to end at US$ 2,706.50 per tonne on Tuesday, August 31.

LME aluminium cash (bid) price and LME official settlement price opened the week on Tuesday, August 31, with a surge of US$ 40.50 per tonne to US$ 2,714 per tonne. On Monday, August 30, the LME market was closed for a summer bank holiday. As of Tuesday, 3-months bid price and 3-months offer price also climbed by US$ 40.50 per tonne to come in at US$ 2,696 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,648 per tonne, up by US$ 30.50 per tonne from US$ 2,617.50 per tonne on August 27.

LME aluminium opening stock slipped from 1338125 tonnes to 1334675 tonnes. Live Warrants stood at 849900 tonnes, while Cancelled Warrants totalled 484775 tonnes.

LME aluminium 3-months Asian Reference Price settled at US$ 2,718.68 per tonne as of August 31.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE decreased US$ 13 per tonne to close at US$ 3,278 per tonne on Wednesday, September 1, following the three consecutive days of hike.

The most-traded SHFE 2110 aluminium closed up 1.16 per cent to RMB 21,385 per tonne, with open interest down 17916 lots to 337400 lots.

The most-active SHFE 2110 aluminium contract decreased 0.7 per cent to end at RMB 21,235 per tonne last night.