LME aluminium benchmark price gains US$11/t to US$2496.5/t; SHFE price grows by US$10/t

LME aluminium opened at US$2,510 per tonne in the previous trading day, with a high of US$2,547.5 per tonne and a low of US$2,510 per tonne, and closed at US$2,517.5 per tonne, flat compared to the previous trading day's closing price.

On Monday, July 1, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$11 per tonne or 0.44 per cent to clock at US$2,496 per tonne and US$2,496.50 per tonne.As per the LME data, both 3-month bid price and 3-month offer price also moved up by US$7 per tonne or 0.27 per cent and US$6.5 per tonne or 0.25 per cent to peg at US$2,532 per tonne and US$2,532.50 per tonne.

December 25 bid price and December 25 offer price stood at US$2,670 per tonne and US$2,675 per tonne after increasing by US$2 per tonne or 0.07 per cent. On the same day, LME aluminium opening stock came in at 1021350 tonnes.

Live warrants and Cancelled warrants clocked at 466500 tonnes and 554850 tonnes. LME aluminium 3-month Asian Reference Price gained US$17.18 per tonne or 0.68 per cent to stand at US$2,530.68 per tonne.

SHFE aluminium price

On Tuesday, July 2, SHFE aluminium benchmark price ascended by US$10 per tonne or 0.35 per cent to reside at US$2,793 per tonne. The most-traded SHFE 2408 aluminium contract opened at RMB 20,355 per tonne overnight, reaching a high of RMB 20,400 per tonne and a low of RMB 20,300 per tonne, and closed at RMB 20,315 per tonne, down RMB 5 per tonne, a decrease of 0.02 per cent.