Three-month LME aluminium closed at US$1,624/t; SHFE aluminium stayed flat
Three-month LME aluminium rebounded from a session-low of US$1,613 per tonne to a more than three-week high of US$1,630 per tonne before ending at US$1,624 per tonne.
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As of Thursday July 2, LME aluminium cash (bid) price stands at US$ 1601.50 per tonne, LME official settlement price stands at US$ 1601.50 per tonne; 3-months bid price stands at US$ 1621.50 per tonne, 3-months offer price is US$ 1621.50 per tonne; Dec 21 bid price stands at US$ 1720.50 per tonne, and Dec 21 offer price stands at US$ 1720.50 per tonne.
The LME aluminium opening stock stood at 1633775 tonnes. Live Warrants totalled 1472775 tonnes, and Cancelled Warrants were 161000 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1614.34per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased to stand at US$ 2022 per tonne on Friday, 03 July 2020.
The most-liquid SHFE August contract slipped to a session-low of RMB13,920 per tonne before recovering some ground to end up 0.22% at RMB13,965 per tonne. The contract capped a volatile trading session overnight and closed flat at RMB13,980 per tonne.
Hindalco again increases its aluminium prices by 1% w.e.f July 1 in line with rallying LME prices
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