LME benchmark aluminium price elevates by US$34/t; SHFE gains US$8/t every alternate day

LME aluminium opened at US$2,437 per tonne last Friday and closed at US$2,459 per tonne, an increase of US$19.5 per tonne or 0.8 per cent.

LME aluminium cash bid price stopped at US$2,459 per tonne, with a 1.44 per cent or US$35 per tonne escalation on Friday, July 22, while LME aluminium official settlement price rested at US$2,460 per tonne, experiencing a price hike of 1.40 per cent or US$34 per tonne.

The 3 month bid price grew by US$33 per tonne or 1.36 per cent to USD2,457 per tonne, while the offer price grew by US$32.50 per tonne or 1.34 per cent to USD2,457.50 per tonne.

December 23 bid price and December 23 offer price climbed up the graph by US$37 per tonne or 1.5 per cent to rest at US$2,495 per tonne and US$2,500 per tonne, respectively.

LME aluminium opening stock continued to shrink by 1.29 per cent or 4,100 tonnes, from 317,275 tonnes to 313,175 tonnes as of July 22.

Live warrants totalled 149,675 tonnes, with a decline of 2.04 per cent or 3,125 tonnes.

Cancelled warrants read 163,500 tonnes, decreasing by 0.51 per cent or 975 tonnes from the previous day.

LME aluminium 3-month Asian Reference Price added 0.77 per cent or US$18.8 per tonne, stopping at US$2,444.30 per tonne.

SHFE aluminium price

Today, on July 25, the SHFE benchmark aluminium price has gained US$8 per tonne or 0.3 per cent on alternative days to stand at US$2,665 per tonne, compared with the data collected last week.

The most-traded SHFE 2208 aluminium contract opened at RMB 18,050 per tonne at last Friday’s night session and rose to RMB 18,225 per tonne before closing at RMB 18,160 per tonne, RMB 165 yuan per tonne or 0.92 per cent.

The most-traded SHFE 2208 aluminium closed down 0.06 per cent or RMB 10 per tonne to RMB 17,995 per tonne, with open interest down 3,827 to 104,631 lots.