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13 AUGUST 2022 AL CIRCLE

LME aluminium price moved high to US$2468.5/t despite intermittent declines; SHFE price accumulated US$86/t this week

EDITED BY : DEBANJALI SENGUPTA 3MINS READ

The LME aluminium benchmark price moved high this week by US$33 per tonne but started the week with a decline and also displayed an intermitted drop. LME aluminium cash bid price and LME aluminium official settlement price decreased by US$12 per tonne on Monday, August 8, to stand at US$2,435 per tonne and US$2,435.50 per tonne, respectively. Next day, on August 9, the prices climbed up by 2 per cent and rested at US$2,487 per tonne and US$2,488 per tonne. On Wednesday, August 10, LME aluminium cash bid price shrank by US$25 per tonne to stand at US$2,462 per tonne, while LME aluminium official settlement price slipped by US$25.50 per tonne to settle at US$2,462.50 per tonne. On August 11, the prices built-up by US$34 per tonne and US$35.50 per tonne to come in at US$2,496 per tonne and US$2,498 per tonne, respectively. On Friday, LME aluminium cash bid price ended at US$2,468 per tonne, down by US$28 per tonne, while LME aluminium official settlement price closed at US$2,468.50 per tonne, less by US$29.50 per tonne.

LME aluminium price moved high to US$2468.5/t despite intermittent declines; SHFE price accumulated US$86/t through the week

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3-month bid price and 3-month offer price also initiated the week with a drop with US$8 per tonne and US$7 per tonne to stand at US$2,432 per tonne and US$2,434 per tonne. On Tuesday, the prices grew by US$41 per tonne and US$39.50 per tonne, respectively, to come in at US$2,473 per tonne and US$2,473.50 per tonne. On Wednesday, 3-month bid price and 3-month offer price again decreased to US$2,448 per tonne and US$2,449 per tonne but rebounded the next day, August 11, to US$2,491 per tonne and US$2,493 per tonne. On Friday, August 12, the prices closed the week at US$2,465 per tonne and US$2,466 per tonne.

December 23 bid price and December 23 offer price grew from US$2,475 per tonne to US$2,500 per tonne and US$2,480 per tonne to US$2,505 per tonne, respectively.

LME aluminium opening stock declined through the week from 287425 tonnes to 277225 tonnes.

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SHFE aluminium price 

The benchmark aluminium price for SHFE slumped at the beginning of the week, August 8, from US$2,764 per tonne to US$2,736 per tonne but took wing forward throughout the week. On Tuesday, August 9, the SHFE price grew by US$12 per tonne to US$ 2,748 per tonne, then further mounted to US$2,794 per tonne on Wednesday, August 10. On Thursday, August 11, SHFE aluminium price built up by US$17 per tonne to come in at US$2,811 per tonne, and accumulated US$10 per tonne on Friday, August 12, to close the week at US$2,822 per tonne.

Tagged with:

Price LME

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EDITED BY : DEBANJALI SENGUPTA 3MINS READ

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