LME aluminium cash (bid) price and LME official settlement price started this week on Tuesday, June 1, with a surge of US$ 57 per tonne to US$ 2,461.50 per tonne from US$ 2,404.50 per tonne on Friday, May 28. On Wednesday, June 3, the price decreased by US$ 19.50 per tonne to come in at US$ 2,442 per tonne. It further decreased on Thursday, June 4, to stand at US$ 2,386.50 per tonne but increased on the subsequent day to close the week on June 4 at US$ 2,412.50 per tonne.
3-months bid price and 3-months offer price also slowed down this week by US$ 58.50 per tonne. The prices commenced the week on June 1 at US$ 2,485 per tonne and closed the week on June 4 at US$ 2,426.50 per tonne. Dec 22 bid price and Dec 22 offer decreased from US$ 2,486 per tonne to US$ 2,433.50 per tonne this week.
LME aluminium opening stock declined from 1707000 tonnes to 1676100 tonnes during June 1-4.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE commenced the week on Monday, May 31, at US$ 2,961 per tonne, which on Tuesday, June 1, decreased by US$ 25 per tonne to stand at US$ 2,936 per tonne. On Wednesday and Thursday, the price further fell to stand at US$ 2,925 per tonne and US$ 2,914 per tonne, respectively. On Friday, the price closed the week even lower at US$ 2,854 per tonne.
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