LME aluminium price moves up by US$4.5/t to US$2,124/t; SHFE price grows to US$2,570/t

LME aluminium opened at US$2,155 per tonne on Friday, with its high and low at US$2,178.5 per tonne and US$2,147 per tonne, respectively, before closing at US$2,151 per tonne, a decrease of US$6.50 per tonne or 0.30 per cent from the previous trading day.

On August Friday 25, both LME aluminium cash bid price and LME aluminium official settlement price grew by US$4 per tonne or 0.18 per cent and US$4.5 per tonne or 0.21 per cent to settle at US$2,123 per tonne and US$2,124 per tonne.

As per the London Metal Exchange (LME), the 3-month bid price and 3-month offer price went down by US$2 per tonne or 0.09 per cent and US$2.5 per tonne or 0.11 per cent to close at US$2,160 per tonne and US$2,160.50 per tonne. December 24 bid price and December 24 offer price skids by US$3 per tonne or 0.12 per cent to settle at US$2,320 per tonne and US$2,325 per tonne.

LME aluminium opening stock halted at 526175 tonnes. Live warrants and Cancelled warrants stood at 230575 tonnes and 295600 tonnes. LME aluminium 3-month Asian Reference Price dropped by US$6.58 per tonne or 0.30 per cent to rest at US$2,164.24 per tonne.

SHFE aluminium price

On Monday, August 28, the Shanghai Futures Exchange (SHFE) aluminium benchmark price marked a hike of US$8 per tonne or 0.31 per cent to score at US$2,570 per tonne. Last Friday night, the most-traded SHFE 2309 aluminium contract opened at RMB 18,555 per tonne, with the lowest and highest prices at RMB 18,550 per tonne and RMB 18,620 per tonne before closing at RMB 18,570 per tonne, up RMB 25 per tonne or 0.13 per cent from the previous trading day.