LME aluminium price expands by 1.35% to settle at US$2184/t; SHFE aluminium price gains US$4/t

Three-month LME aluminium opened at US$2,205.50 per tonne on Tuesday, with its high and low at US$2,246.50 per tonne and US$2,204 per tonne, respectively, before closing at US$ 2236.50 per tonne, an increase of US$29 per tonne or 1.31 per cent.

On Tuesday, July 25, LME aluminium cash bid price and LME aluminium official settlement price escalated by US$29 per tonne or 1.35 per cent to close at US$2,183 per tonne and US$2,184 per tonne, respectively. This hike pushed the LME aluminium benchmark price week-on-week higher by US$14.50 per tonne from US$2,169.50 per tonne.

The 3-month bid price and 3-month offer price expanded by US$35 per tonne and US$33.50 per tonne, settling at US$2,226 per tonne and US$2,226.50 per tonne, as of July 25. December 24 bid price and December 24 offer price heightened by US$30 per tonne to reside at US$2,385 per tonne and US$2,390 per tonne.

LME aluminium opening stock totalled 516975 tonnes, up by 0.87 per cent from 512500 tonnes on the previous day. Live Warrants grew by 2.37 per cent from 277625 tonnes to 284200 tonnes but Cancelled Warrants dipped by 0.89 per cent from 234875 tonnes to 232775 tonnes.

LME aluminium 3-month Asian Reference Price increased by US$28.53 per tonne to come in at US$2,236.98 per tonne.

 SHFE aluminium price

On Wednesday, July 26, the aluminium benchmark price on the Shanghai Futures Exchange gained US$4 per tonne to clock at US$2,565 per tonne. On a week-on-week calculation, the price edged an increase of 1.46 per cent from US$2,528 per tonne.

The most-traded SHFE 2309 aluminium contract opened at RMB 18,395 per tonne overnight, with the highest and lowest prices at RMB 18,435 per tonne and RMB 18,370 per tonne before closing at RMB 18,390 per tonne, down by RMB 10 per tonne or 0.05 per cent.