LME aluminium opened at US$2,252.5 per tonne on Wednesday, with its high and low at US$2,257 per tonne and US$2,203 per tonne, respectively, before closing at US$2,210 per tonne, a decrease of US$43 per tonne or 1.91 per cent.
LME aluminium closing prices curve has been on the downward slope, with the aluminium cash bid price and the LME aluminium official settlement price shedding US$40 per tonne or 1.8 per cent and US$40.50 per tonne or 1.83 per cent, respectively, to close at US$2,176 per tonne and US$2,176.50 per tonne.
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LME aluminium historical price chart shows a Quarter-on-Quarter fall of US$176.50 per tonne or 7.5 per cent if we consider the aluminium cash price on May 2, which was US$2,353 per tonne.
LME 3-month bid price plunged by US$34 per tonne or 1.5 per cent, settling down at US$2,226 per tonne, and LME 3-month offer price lost US$35 per tonne or 1.5 per cent to halt at US$2,227 per tonne.
December 24 bid price and December 24 offer price both skid by US$32 per tonne or 1.32 per cent to arrive at US$2,385 per tonne and US$2,390 per tonne.
LME aluminium opening stock stood at 502775 tonnes, with a massive drop of 2,775 tonnes or 0.55 per cent.
Live warrants and Cancelled warrants settled at 281000 tonnes and 221775 tonnes, the first with a spike of 0.009 per cent and the latter with 1.25 per cent subtracted from it.
LME aluminium 3-month Asian Reference Price stood at US$2,241.89 tonnes after recording a loss of US$25.12 per tonne or 1.11 per cent.
SHFE aluminium price
Today, on August 3, the aluminium benchmark price at the Shanghai Futures Exchange (SHFE) has dived by US$15 per tonne or 0.58 per cent to reach US$2,574 per tonne.
Overnight, the most-traded SHFE 2309 aluminium contract opened at RMB 18,435 per tonne, with the lowest and highest prices at RMB 18,385 per tonne and RMB 18,495 per tonne before closing at RMB 18,415 per tonne, down RMB 125 per tonne or 0.67 per cent from Wednesday.
SHFE 2307 aluminium added RMB 595 per tonne or 3.38 per cent to RMB 18,185 per tonne. The open interest fell 11,785 lots to 256,640 lots.
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