LME closes the week augmenting by US$24.5/t to US$2480//t; SHFE slumps to US$2868/t

LME aluminium opened at US$2,520 per tonne on Thursday and closed at US$2,438 per tonne, down US$71 per tonne or 2.8 per cent.

LME aluminium cash bid price stood at US$2,478 per tonne, with a 0.94 per cent or US$23 per tonne escalation on Thursday, June 23. LME aluminium official settlement price halted at US$2,480 per tonne, experiencing an upward strike of 1 per cent or US$24.50 per tonne. 

3-month bid price grew by 0.95 per cent or US$23.50 per tonne to stand at US$2,493 per tonne, while 3-month offer price experienced a US$24 per tonne or 0.97 per cent hike to close the week at US$2494 per tonne.  

December 23 bid price stood and December 23 offer price climbed up by US$15 per tonne rest at US$2,500 per tonne and US$2,505 per tonne, respectively.

LME aluminium opening stock continued to decrease by 0.83 per cent or 3,300 tonnes from 395,575 tonnes to 392,275 tonnes, as of June 23.

Live warrants totalled 166,575 tonnes, showing no alteration for three days. Cancelled warrants read 225,700 tonnes, shrinking by 1.44 per cent from the previous day.

LME aluminium 3-month Asian Reference Price dropped 0.46 per cent or US$11.58 per tonne to stop at US$2507.75 per tonne.

SHFE aluminium price 

On Friday, June 24, the SHFE benchmark aluminium price inclined downwards by US$24 per tonne or 0.83 per cent to settle at US$2,868 per tonne.

Overnight, the most-traded SHFE 2207 aluminium contract opened at RMB 19,425 per tonne, with its low and high at RMB 19,250 per tonne and RMB 19,570 per tonne before closing at RMB 19,295 per tonne, down RMB 190 per tonne or 0.98 per cent.

The most-traded SHFE 2207 aluminium closed down 1.22 per cent or RMB 240 per tonne to RMB 19,485 per tonne, with open interest down 12,623 lots to 94,277 lots.