On Wednesday, July 24, the three-month LME aluminum contract opened at US$2,296 per tonne, reached a high of US$2,320.50 per tonne and a low of US$2,286 per tonne, and closed at US$2,295 per tonne, down US$2.5 per tonne or 0.15 per cent.
LME aluminium cash bid price and LME aluminium official settlement price inched up for another day by US$2 per tonne after relentless declines since the beginning of July. With a slight growth for the second day in a row, LME aluminium cash bid price clocked at US$2,265 per tonne and LME aluminium official settlement price arrived at US$2,266 per tonne, which was however, down by 4.1 per cent week-on-week from US$2,363 per tonne.
3- month bid price and 3-month offer price, on the other hand, continued to decline by US$3 per tonne to stand at US$2,312 per tonne and US$2,313 per tonne, respectively. December-25 bid price and December-25 offer price descended by US$7 per tonne to settle at US$2,465 per tonne and US$2,470 per tonne.
LME aluminium opening stock took off 3,775 tonnes on June 24 to come in at 948,450 tonnes. Live warrants and Cancelled Warrants stood at 397,350 tonnes and 554,875 tonnes, respectively, down by 300 tonnes and 3,475 tonnes from the previous trading day.
On July 24, LME aluminium 3-month Asia Reference Price suffered a loss of US$18.44 per tonne to peg at US$2,295.41 per tonne.
SHFE aluminium price
On Thursday, July 25, the SHFE aluminium benchmark price decreased by US$11 per tonne to stand at US$2,634 per tonne. On a week-on-basis basis, the price marked a loss of US$67 per tonne from US$2,701 per tonne, while the price on a M-o-M basis edged a sharp fall of US$164 per tonne from US$2,798 per tonne.
The most-traded SHFE 2409 aluminum contract opened at RMB 19,350 per tonne overnight, reaching a high of RMB 19,360 per tonne and a low of RMB 19,255 per tonne, and closed at RMB 19,270 per tonne, down RMB 50 per tonne or 0.26 per cent.
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