LME aluminium price grows for the third consecutive day to stand at US$2397.50/t; SHFE price closes above US$2900/t

Three-month LME aluminium closed 0.25 per cent higher at US$ 2,440 per tonne on Thursday night, with open interest down 9,400 lots to 685,000 lots, and is expected to trade between US$ 2,400-2,460 per tonne today.

LME aluminium cash (bid) price and LME official settlement price grew for the third consecutive day by US$ 11 per tonne to come in at US$ 2,397.50 per tonne as of Thursday, June 24. 3-months bid price and 3-months offer price stood at US$ 2,424 per tonne, up by US$ 8 per tonne from US$ 2,416 per tonne. Dec 22 bid price and Dec 22 offer price increased from US$ 2,397.50 per tonne on June 23 to US$ 2,406 per tonne on June 24.

LME aluminium opening stock decreased further from 1616325 tonnes to 1609100 tonnes. Live Warrants totalled 942075 tonnes, while Cancelled Warrants stood at 667025 tonnes.

Meanwhile, LME aluminium 3-months Asian Reference Price dropped from US$ 2,418.79 per tonne on June 23 to US$ 2,416.15 per tonne on June 24.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE grew above US$ 2,900 per tonne after remaining restrained at US$ 2,896 per tonne on the previous day. As of Friday, June 25, SHFE aluminium price closed the week at US$ 2,904 per tonne.

The most-liquid SHFE 2107 aluminium contract finished the day 0.37 per cent lower at RMB 18,645 per tonne. Open interest rose 9,927 lots to 207,237 lots.

The most traded SHFE 2108 aluminium contract edged up 0.11 per cent to close at RMB 18,765 per tonne on Thursday night, with open interest up 4,511 lots to 211,700 lots, and is expected to trade between RMB 18,600-19,000 per tonne today.