LME aluminium price trended up this week by US$61.50/t to settle at US$2519.50/t; SHFE price decreased by US$40/t

LME aluminium cash (bid) price and LME official settlement price built-up US$ 61.50 per tonne this week ended on July 2. The week started on June 28 with an increase of US$ 7 per tonne in both LME aluminium cash (bid) price and LME official settlement price from US$ 2,451 per tonne to US$ 2,458 per tonne. On June 29, the prices surged to US$ 2,518.50 per tonne, which further expanded to US$ 2,523 per tonne on Wednesday, June 30. However, on Thursday, July 1, the prices plunged by US$ 42 per tonne to come in at US$ 2,481 per tonne. Nonetheless, they rebounded on Friday to end the week at US$ 2,519.50 per tonne.

3-months bid price and 3-months offer price increased by US$ 57.50 per tonne this week from US$ 2,477.50 per tonne to US$ 2,535 per tonne. Dec 22 bid price and Dec 22 offer price hiked US$ 51.50 per tonne to end the week at US$ 2,488.50 per tonne as of July 2.

LME aluminium opening stock trended down from 1586150 tonnes on Monday, June 28, to 1562950 tonnes on Friday, July 2.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE, on the other hand, decreased this week by US$ 40 per tonne. It started the week on Monday, June 28, at US$ 2,924 per tonne, which inched up by US$ 1 per tonne to come in at US$ 2,925 per tonne on Tuesday, June 29. On June 30, the price decreased to US$ 2,915 per tonne, and stood further down at US$ 2,904 per tonne on Thursday July 1. On Friday, July 2, the price ended the week even lower at US$ 2,884 per tonne.