LME benchmark aluminium price crawls up 2.15% to US$2488/t; SHFE records US$46/t hike

LME aluminium opened at US$2,448 per tonne on Tuesday and rose to US$2,507 per tonne before closing at US$2,472 per tonne, an increase of 1.31 per cent.

LME aluminium cash bid price stopped at US$2,487 per tonne, with a 2.13 per cent or US$52 per tonne escalation on Tuesday, August 9, while LME aluminium official settlement price rested at US$2,488 per tonne, experiencing a price hike of US$52.50 per tonne or 2.15 per cent.   

3-month bid price grew by 1.68 per cent or US$41 per tonne to stand at US$2,473 per tonne, while the 3-month offer price witnessed a US$39.50 per tonne or 1.62 per cent boost to US$2,473.50 per tonne. 

December 23 bid price and December 23 offer price climbed up the graph by US$33 per tonne or 1.3 per cent to rest at US$2,508 per tonne and US$2,513 per tonne, respectively.

LME aluminium opening stock continued to decrease by 1.09 per cent or 3,150 tonnes, from 287,425 tonnes to 284,275 tonnes as of August 9.

Live warrants totalled 154,800 tonnes, showing no alteration at all. 

Cancelled warrants read 129,475 tonnes, shrinking by 2.37 per cent or 3,150 tonnes from the previous day.

LME aluminium 3-month Asian Reference Price had a 1.34 per cent or US$32.50 per tonne spike, stopping at US$2,456.74 per tonne.

SHFE aluminium price 

Today, on August 10, the SHFE benchmark aluminium price witnessed a US$46 per tonne or 1.67 per cent elevation to stand at US$2,794 per tonne, if compared with data collected yesterday. 

Overnight, SHFE aluminium opened at RMB 18,630 per tonne and rose to RMB 18,800 per tonne following news that a smelter cut its output due to an accident. SHFE aluminium closed at RMB 18,660 per tonne, an increase of 0.86 per cent.

The most-traded SHFE 2209 aluminium closed up 0.62 per cent or RMB 115 per tonne to RMB 18,540 per tonne, with open interest up 6,183 lots to 172,884 lots.