LME benchmark aluminium price goes up by 3.1% to US$2447.5/t; SHFE loses US$28/t

LME aluminium opened at US$2,403 per tonne last Friday and rose to US$2,454 per tonne before closing at US$2,421 per tonne.

LME aluminium cash bid price stopped at US$2,447 per tonne, with a 3.1 per cent or US$73.50 per tonne escalation on Friday, August 5, while LME aluminium official settlement price rested at US$2,447.50 per tonne, experiencing a similar price hike.  

3-month bid price grew by 2.84 per cent or US$67.50 per tonne to stand at US$2,440 per tonne, while the 3-month offer price witnessed a US$68 per tonne or 2.86 per cent boost to US$2,441 per tonne. 

December 23 bid price and December 23 offer price climbed up the graph by US$68 per tonne or 2.81 per cent to rest at US$2,485 per tonne and US$2,490 per tonne, respectively.

LME aluminium opening stock continued to decrease by 0.53 per cent or 1,550 tonnes, from 290,675 tonnes to 289,125 tonnes as of August 5.

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

Cancelled warrants read 134,325 tonnes, shrinking by 1.14 per cent or 1,550 tonnes from the previous day.

LME aluminium 3-month Asian Reference Price had 1.41 per cent or US$33.67 per tonne added, stopping at US$2,414.32 per tonne.

SHFE aluminium price 

Today, on August 8, the SHFE benchmark aluminium price witnessed a US$28 per tonne or 1.01 per cent slump to stand at US$2,736 per tonne, if compared with data collected the previous week. 

Affected by US non-farm payrolls, the most-traded SHFE 2209 aluminium contract opened lower at RMB 18,400 per tonne at last Friday’s night session but then climbed to RMB 18,600 per tonne before closing at RMB 18,500 per tonne, up 0.46 per cent.

The most-traded SHFE 2209 aluminium closed up 1.76 per cent or RMB 320 per tonne to RMB 18,515 per tonne, with open interest up 8,050 lots to 175,531 lots.