LME aluminium price trended up this week by US$107.50/t; SHFE price accumulated US$18/t through the week

The LME aluminium benchmark price has reflected an upswing movement through the week by US$107.50 per tonne, with only an intermittent downfall. Both LME aluminium cash bid price and LME aluminium official settlement price started the week with a rise of US$11.50 per tonne or 0.48 per cent to settle at US$2,387 per tonne and US$2,387.50 per tonne. The prices grew on Tuesday by 2.14 per tonne to US$2,438 per tonne and US$2,438.50 per tonne but decreased the next day by US$16.50 per tonne to rest at US$2,421.50 per tonne and US$2,422 per tonne, respectively. On Thursday, August 25, LME aluminium cash bid price and LME aluminium official settlement price experienced a rise of US$20.50 per tonne or 0.85 per cent to settle at US$2,441.50 per tonne and US$2,442.50 per tonne. On Friday, August 26, the prices closed the week at US$2,493 per tonne and US$2,495 per tonne, soaring by US$51.50 per tonne and US$52.50 per tonne, respectively.

3-month bid price and 3-month offer price stood at US$2,380 per tonne and US$2,380.50 per tonne on Monday, August 22, registering an increase of US$7 per tonne. On Tuesday, August 23, the prices witnessed an elevation of US$36 per tonne and US$36.50 per tonne, respectively, to come in at US$2,416 per tonne and US$2,417 per tonne. On Wednesday, August 24, both 3-month bid price and 3-month offer price dropped by US$3 per tonne to hover around US$2,413 per tonne and US$2,414 per tonne but rose the next day to reach US$2,426.50 per tonne and US$2,427.50 per tonne, respectively. On Friday, August 26, the prices recorded a surge of US$58 per tonne to rest US$2,484.50 per tonne and US$2,485.50 per tonne, respectively.

December 23 bid price and December 23 offer price accumulated US$100 per tonne through the week to settle at US$2,525 per tonne and US$2,530 per tonne.

LME aluminium opening stock improved this week by 4,700 tonnes to settle at 278,025 tonnes at the end of the week.

SHFE aluminium price 

The benchmark aluminium price for SHFE has also reflected an overall growth this week but by a lesser value than LME. The price started the week with a hike at US$2,724 per tonne but declined to US$2,715 per tonne. On Wednesday, August 24, the price surged by US$35 per tonne, which further grew to US$2,759 per tonne. But on Friday, August 26, the price slipped by US$17 per tonne to settle at US$2,742 per tonne.