LME aluminium price rose 1.46% to settle at US$2673.50/t; SHFE price continued to expand to US$3246/t

Three-month LME aluminium opened at US$ 2,622 per tonne last Friday morning, with the lowest and highest prices at US$ 2,618.50 per tonne and US$ 2,697 per tonne before closing up US$ 8 per tonne or 1.3 per cent.

LME aluminium cash (bid) price and LME official settlement price surged by 38.50 per tonne or 1.46 per cent to close at US$ 2,673.50 per tonne on Friday, August 27. 3-months bid price and 3-months offer jumped US$ 41 per tonne from US$ 2,614.50 per tonne to US$ 2,655.50 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,617.50 per tonne, up by US$ 37.50 per tonne from US$ 2,580 per tonne on August 26.

LME aluminium opening stock continued to increase from 1306950 tonnes to 1338125 tonnes. Live Warrants stood at 897775 tonnes, while Cancelled Warrants totalled 440350 tonnes.

LME aluminium 3-months Asian Reference Price settled at US$ 2,653.04per tonne as of August 27.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE continued to expand by US$ 58 per tonne to settle at US$ 3,246 per tonne on Monday, August 30.

The most-traded SHFE 2110 aluminium contract opened last Friday’s night session at RMB 20,950 per tonne, with the highest and lowest prices at RMB 21,200 per tonne and RMB 20,805 per tonne before closing at RMB 20,860 per tonne, down RMB 30 per tonne.