LME aluminium price opened this week at a 10-year high but closed lower at US$2696/t; SHFE price continued rising to US$3302/t

LME aluminium cash (bid) price and LME official settlement price reached a 10-year high this week at US$2,714 per tonne as of Tuesday, August 31. Due to a summer bank holiday, the LME market was closed on Monday and started the week on Tuesday. Next day, on September 1, both LME aluminium cash (bid) price and LME official settlement price decreased by US$46.50 per tonne to stand at US$2,667.50 per tonne. On Thursday, September 2, LME prices gained US$27 per tonne to come in at US$2,694.50 per tonne. LME aluminium cash (bid) price and LME official settlement price closed the week on Friday, September 3, a slightly higher by US$1.50 per tonne to US$2,696 per tonne.

3-months bid price and 3-months offer price climbed US$ 40.50 per tonne on Tuesday, August 31, to come in at US$ 2,696 per tonne. On Wednesday, September 1, the prices shrank by US$31.50 per tonne to close at US$2,664.50 per tonne, which on Thursday, September 2, rose to US$2,705.50 per tonne. The prices slightly dropped on Friday, September 3, to close the week at US$ 2,703.50 per tonne.

Dec 22 bid price and Dec 22 offer price grew from US$2,648 per tonne on Tuesday, August 31, to US$2,661.50 per tonne on Thursday, September 2, but declined on Friday, September 3, to stand at US$2,647.50 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE opened the week on Monday, August 30, at US$3,246 per tonne, which increased the next day, August 31, by US$45 per tonne to close at US$3,291 per tonne. On Wednesday, September 1, SHFE aluminium price declined by US$13 per tonne to come in at US$3,278 per tonne but rose the next day, on September 2, to stand at US$3,283 per tonne. The price grew higher on Friday, September 3, to close the week at US$3,302 per tonne.