LME aluminium price gained 1% to reach at US$2694.5/t; SHFE price continued to increase to US$3302/t
LME aluminium benchmark price closed 1 per cent higher on Thursday, September 2.
LME aluminium cash (bid) price and LME official settlement price increased by US$27 per tonne to stand at US$2,694.50 per tonne on Thursday, September 2, following a decline of US$46.50 per tonne on the previous day. 3-months bid price and 3-months offer price surged by US$41 per tonne to come in at US$2,705.50 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$2,661.50 per tonne, up by US$41.50 per tonne from US$2,620 per tonne on September 1.
LME aluminium opening stock slipped from 1336850 tonnes to 1335300 tonnes. Live Warrants stood at 862600 tonnes, while Cancelled Warrants totalled 472700 tonnes.
LME aluminium 3-months Asian Reference Price settled at US$2,728.42 per tonne as of September 2.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE continued to increase to reach at US$3,302 per tonne on Friday, September 3.
The most-traded SHFE 2110 aluminium closed up 1.37 per cent to stand at RMB 21,460 per tonne, with open interest down 375 lots to 310500 lots.
NALCO’s aluminium ingot selling price drops by INR2000/t with effect from September 1
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