LME benchmark aluminium price records 1.44% spike to US$2498/t; SHFE earns US$11/t

LME aluminium opened at US$2,495.5 per tonne on Thursday and closed at US$2,517 per tonne, an increase of 0.83 per cent.

LME aluminium cash bid price stopped at US$2,496 per tonne, with a 1.38 per cent or US$34 per tonne escalation on Thursday, August 11, while LME aluminium official settlement price rested at US$2,498 per tonne, experiencing a price hike of US$35.50 per tonne or 1.44 per cent.  

3-month bid price grew by 1.76 per cent or US$43 per tonne to stand at US$2,491 per tonne, while the 3-month offer price witnessed a US$44 per tonne or 1.8 per cent boost to US$2,493 per tonne. 

December 23 bid price and December 23 offer price climbed up the graph by US$44 per tonne or 1.77 per cent to rest at US$2,527 per tonne and US$2,532 per tonne, respectively.

LME aluminium opening stock continued to decrease by 1.26 per cent or 3,575 tonnes, from 282,700 tonnes to 279,125 tonnes as of August 11.

Live warrants totalled 171,900 tonnes, witnessing a rise of 17,100 tonnes or 11.05 per cent. 

Cancelled warrants read 107,225 tonnes, shrinking by 16.16 per cent or 20,675 tonnes from the previous day.

LME aluminium 3-month Asian Reference Price had a 1.12 per cent or US$27.80 per tonne spike, stopping at US$2,501.30 per tonne.

SHFE aluminium price 

Today, on August 12, the SHFE benchmark aluminium price experienced an US$11 per tonne or 0.39 per cent elevation to stand at US$2,822 per tonne, if compared with data collected yesterday. 

Overnight, SHFE aluminium moved sideways after opening at RMB 18,750 per tonne and closed at RMB 18,655 per tonne, down 0.4 per cent.

The most-traded SHFE 2209 aluminium closed up 0.24 per cent or RMB 45 per tonne to RMB 18,745 per tonne, with open interest down 1,056 lots to 174,633 lots.