LME aluminium benchmark price gains US$14.5/t after two straight days of fall; SHFE price moves up by US$2/t

On the previous trading day, LME aluminium opened at US$2,506.5 per tonne, reached a high of US$2,519.5 per tonne, a low of US$2,486 per tonne, and closed at US$2,496 per tonne, down US$16.54 per tonne, a decrease of 0.66 per cent.

After witnessing fall for the past two days, yesterday (Thursday, June 27) both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$14 per tonne or 0.57 per cent and US$14.5 per tonne or 0.59 per cent to settle at US$2,457.50 per tonne and US$2,458.50 per tonne.

3-month bid price and 3-month offer price added US$10 per tonne or 0.40 per cent and US$8.5 per tonne or 0.34 per cent to clock at US$2,502 per tonne and US$2,502.50 per tonne. As per the LME price graph. December 25 bid price and December 25 offer price ascended by US$15 per tonne or 0.56 per cent to settle at US$2,653 per tonne and US$2,658 per tonne.

LME aluminium opening stock came in at 1032875 tonnes. Live warrants and Cancelled warrants stood at 466500 tonnes and 566375 tonnes. LME aluminium 3-month Asian Reference Price inched down by US$0.22 per tonne to dock at US$2,500.44 per tonne.

SHFE aluminium price

On Friday, June 28, the SHFE aluminium benchmark price moved up by US$2 per tonne to halt at US$2,785 per tonne.

Overnight, the most-traded SHFE aluminium contract 2408 opened at 20,235 yuan/mt, reached a high of RMB 20,285 per tonne, a low of RMB 20,175 per tonne, and closed at RMB 20,195 per tonne, down RMB 65 per tonne, a decrease of 0.32 per cent.