LME aluminium price opened the week lower at US$2449/t; SHFE price grew to US$2971/t
Three-month LME aluminium fell 0.06 per cent to close at US$ 2,492.50 per tonne on Monday. It is expected to trade between US$ 2,480-2,550 per tonne today.
LME aluminium cash (bid) price and LME official settlement price opened the week on Monday, July 12, at US$ 2,449 per tonne, down by US$ 21 per tonne or 0.85 per cent from US$ 2,470 per tonne on Friday, July 9. 3-months bid price and 3-months offer price decreased by US$ 20 per tonne from US$ 2,488.50 per tonne to US$ 2,468.50 per tonne. Dec 22 bid price and Dec 22 offer price declined from US$ 2,473.50 per tonne to US$ 2,453.50 per tonne.
LME aluminium opening stock stood further lower at 1496075 tonnes. Live Warrants totalled 897275 tonnes, while Cancelled Warrants closed at 598800 tonnes.
Meanwhile, LME aluminium 3-months Asian Reference Price increased from US$ 2460.25 per tonne on July 9 to US$ 2489.39 per tonne on July 12.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE extended growth from the third day in a row to stand at US$ 2,971 per tonne on Tuesday, July 13.
The most-liquid SHFE 2108 aluminium contract rose 0.71 per cent to settle at RMB 19,175 per tonne on Monday night, and is likely to trade between RMB 19,000-19,500 per tonne today.
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