LME aluminium price plunges for the sixth day in a row, losing $71.5/t W-o-W; SHFE price declines by $21/t
On Monday, July 15, LME aluminum opened at US$2,479.50 per tonne, hit a high of US$2,489.50 per tonne, a low of US$2,458 per tonne, and closed at US$2,460 per tonne, down by 1.18 per cent.
LME aluminium cash bid price and LME aluminium official settlement price further decreased, marking the sixth consecutive day of fall. While the former descended by US$17.50 per tonne to settle at US$2,403.50 per tonne, the latter shrank by US$18 per tonne to US$2,404 per tonne.
On a week-on-week calculation, the LME aluminium benchmark price shed off a substantial amount of US$71.50 per tonne, and on a month-on-month basis, the price suffered a loss of about US$61.50 per tonne, according to the LME graph.
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