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09 JULY 2022 AL CIRCLE

LME aluminium price oscillated through the week ending lower at US$2399.5/t; SHFE price closed at US$2758/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

LME aluminium benchmark price displayed an oscillating trend this week, ending lower on Friday, July 8. LME aluminium cash bid price and LME aluminium official settlement price started at US$2,431 per tonne and US$2,431.50 per tonne as of Monday, July 4, seeing an increase of 2 per cent from the previous day. Next day, on July 5, the prices slumped by US$59 per tonne and US$57.50 per tonne, respectively, to come in at US$2,372 per tonne and US$2,374 per tonne. The prices decreased further on July 6 to US$2,357 per tonne and US$2,358 per tonne but grew the next day by 2.5 per cent to settle at US$2,416.50 per tonne and US$2,417.50 per tonne, respectively. However, on Friday, LME aluminium cash bid price and LME aluminium official settlement price shrank by US$17.50 per tonne and US$18 per tonne, respectively, to close at US$2,399 per tonne and US$2,399.50 per tonne. 

LME aluminium price oscillated through the week ending lower at US$2399.5/t; SHFE price closed at US$2758/t

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3-month bid price and 3-month offer price also initiated the week on July 4 with a 2 per cent hike to US$2,450 per tonne and US$2,452 per tonne and then drifted downward by US$63 per tonne and US$64.50 per tonne to settle at US$2,387 per tonne and US$2,387.50 per tonne on July 5. On Wednesday, the prices shrank further by US$8 per tonne and US$7.50 per tonne to stand at US$2,379 per tonne and US$2,380 per tonne. On Thursday, July 7, both 3-month bid price and 3-month offer price recorded a surge of US$54 per tonne and US$55 per tonne to halt at US$2,433 per tonne and US$2,435 per tonne, respectively, but closed the week lower at US$2,414 per tonne and US$2,414.50 per tonne.

December 23 bid price and December 23 offer price ranged between US$2,488-2,435 per tonne and US$2,493-2,414.50 per tonne, respectively, through the week.

LME aluminium opening stock continued to decline from 366,150 tonnes on July 4 to 347,175 tonnes on July 8.

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SHFE aluminium price 

The benchmark aluminium price for SHFE grew by US$23 per tonne on July 4 to stand at US$2,862 per tonne but slipped by US$7 per tonne on Tuesday, July 5, to halt at US$2,855 per tonne. On Wednesday, July 6, the SHFE price nosedived by US$122 per tonne to rest at US$2,733 per tonne, followed by a drop of US$6 per tonne to US$2,727 per tonne. On Friday, July 8, the price trended up at US$2,758 per tonne.

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Price LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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