LME aluminium price grew US$38.50/t to close at US$2519.50/t; SHFE soared above US$2950/t
The LME complex performed similarly on Friday, with aluminium rose 1.93 per cent.
LME aluminium cash (bid) price and LME official settlement price grew US$ 38.50 per tonne to close at US$ 2,519.50 per tonne on Friday, July 2. 3-months bid price and 3-months offer price rebounded to US$ 2,535 per tonne from US$ 2,497.50 per tonne on July 1. Dec 22 bid price and Dec 22 offer price increased from US$ 2,453 per tonne on July 1 to US$ 2,488.50 per tonne on July 2.
LME aluminium opening stock decreased from 1568900 tonnes to 1562950 tonnes. Live Warrants totalled 934350 tonnes, while Cancelled Warrants stood at 628600 tonnes.
LME aluminium 3-months Asian Reference Price rose from US$ 2511.05 per tonne to US$ 2517.59 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE opened the week on Monday, July 5, with a surge of US$ 70 per tonne to US$ 2,954 per tonne.
The most traded SHFE 2108 aluminium contract gained 1.34 per cent to end at RMB 18,880 per tonne today, with open interest down 749 lots to 206,000 lots.
Glencore seeks to refinance Sanjeev Gupta’s European aluminium business following the surge in green metal price
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