
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.

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.
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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