SHFE price grows W-o-W by US$40/t, arriving at US$2789/t today; LME market is closed for summer bank holiday

On Tuesday, August 27, the SHFE aluminium benchmark price moved up by US$2 per tonne or 0.07 per cent to clock at US$2,789 per tonne. W-o-W, the price has surged by US$40 per tonne or 1.45 per cent from US$2,749 per tonne.

The most-traded SHFE aluminium 2410 contract opened at RMB 19,930 per tonne overnight, reaching a high of RMB 19,980 per tonne and a low of RMB 19,860 per tonne, and closed at RMB 19,890 per tonne, down RMB 35 per tonne, a decrease of 0.18 per cent.

LME price

On Monday, August 26, the LME market was closed for a day due to the summer bank holiday. However, on Friday, August 23, both the LME aluminium cash bid price and LME aluminium official settlement price gained US$28.5 per tonne or 1.15 per cent and US$28 per tonne or 1.13 per cent to clock at US$2,498.50 per tonne and US$2,499 per tonne.

3-month bid price and 3-month offer price added US$16 per tonne and US$16.5 per tonne to peg at US$2,508.50 per tonne and US$2,509 per tonne. December 25 bid price and December 25 offer price ascended by US$12 per tonne or 0.45 per cent to clock at US$2,635 per tonne and US$2,640 per tonne.

 LME aluminium opening stock came in at 870950 tonnes. Live warrants and Cancelled warrants closed at 346625 tonnes and 524325 tonnes. LME aluminium 3-month Asian Reference Price moved up by US$2.79 per tonne or 0.11 per cent to stop at US$2,490.46 per tonne.