LME aluminium price closes the week with a surge of US$58.5/t; SHFE price gains US$33/t

LME aluminium opened at US$2,280 per tonne last Friday, reaching a high of US$2,329.5 per tonne and a low of US$2,280 per tonne. It closed at US$2,295 per tonne, up US$11 per tonne, an increase of 0.48 per cent.

On Friday, August 9, both LME aluminium cash bid price and LME aluminium official settlement price skyrocketed by US$58.5 per tonne or 2.65 per cent to settle at US$2,262.50 per tonne and US$2,263 per tonne.

LME aluminium 3-month bid price and 3-month offer price surged by US$60 per tonne or 2.65 per cent and US$58.5 per tonne or 2.58 per cent to dock at US$2,318 per tonne and US$2,318.50 per tonne.

December 25 bid price and December 25 offer price hiked by US$55 per tonne or 2.27 per cent to peg at US$2,468 per tonne and US$2,473 per tonne. LME aluminium opening stock came in at 907450 tonnes. Live warrants and Cancelled warrants stood at 354800 tonnes and 552650 tonnes.

LME aluminium 3-month Asian Reference Price added US$16.55 per tonne or 0.72 per cent to settle at US$2,293.11 per tonne.

SHFE aluminium price

On Monday, August 12, the SHFE aluminium benchmark price gained US$33 per tonne or 1.25 per cent to reach US$2,666 per tonne. Last Friday night, the most-traded SHFE 2409 aluminium contract opened at RMB 19,170 per tonne. Bears built positions, pushing the price to a high of RMB 19,225 per tonne, with the lowest point at RMB 19,085 per tonne. It closed at RMB 19,125 per tonne, up RMB 45 per tonne, an increase of 0.24 per cent.