LME rises mid-week by US$57.5/t to close at US$2519.5/t; SHFE suffers an US$17/t cut

LME aluminium opened at US$2,515 per tonne on Tuesday and closed at US$2,530 per tonne, an increase of US$15.5 per tonne or 0.62 per cent.

LME aluminium cash bid price stood at US$2518.50 per tonne, with a 2.34 per cent or US$57.50 per tonne hike, according to London Metal Exchange data. LME aluminium official settlement price halted at US$2,519.50 per tonne, which also experienced a rise of US$57.50 per tonne or 2.33 per cent on June 21.  

3-month bid price escalated by 2.02 per cent or US$50 per tonne, resulting in US$2,530 per tonne, while 3-month offer price rose by 2.05 per cent or US$51 per tonne to rest at US$2,532 per tonne. 

December 23 bid price stood at US$2,547 per tonne and December 23 offer price closed at US$2,552 per tonne, rising 1.96 per cent or US$49 per tonne.

LME aluminium opening stock continued to decrease by 1.37 per cent or 5,525 tonnes from 404,450 tonnes to 398,925 tonnes as of June 21, Tuesday.

Live warrants totalled 166,575 tonnes, showing no signs of change. Cancelled warrants read 232,350 tonnes, after 5,525 tonnes or 2.32 per cent decline.

The LME aluminium 3-month Asian Reference Price heightened by 0.9 per cent or US$22.59 per tonne to stop at US$2,521.34 per tonne.

SHFE aluminium price 

Today, on June 22, the SHFE benchmark aluminium price has contracted by US$16.17 per tonne or 0.55 per cent to stand at US$2,944.83 per tonne after a day of stagnancy.

The most-traded SHFE 2207 aluminium contract opened at RMB 19,740 per tonne overnight, with its low and high at RMB 19,740 per tonne and RMB 19,955 per tonne before closing at RMB 19,855 per tonne, up RMB 140 per tonne or 0.71 per cent.

The most-traded SHFE 2207 aluminium closed up 0.48 per cent or RMB 95 per tonne to RMB 19,780 per tonne, with open interest down 18,202 lots to 118,182 lots.