LME aluminium benchmark price grows by US$7.5/t to US$2,129/t; SHFE price loses US$13/t

LME aluminium opened at US$2,179 per tonne on Wednesday with its high and low at US$2,192.5 per tonne and US$2,171.5 per tonne respectively before closing at US$2,175 per tonne, a decrease of US$6 per tonne or 0.28 per cent from the previous trading day.

On Wednesday, August 23, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$7.5 per tonne or 0.35 per cent to close at US$2,128.50 per tonne and US$2,129 per tonne.

LME aluminium 3-month bid price and LME aluminium 3-month offer price also grew by US$6 per tonne or 0.27 per cent to settle at US$2,178 per tonne and US$2,180 per tonne. December 24 bid price and December 24 offer price went up by US$8 per tonne or 0.34 per cent to rest at US$2,343 per tonne and US$2,348 per tonne.

LME aluminium opening stock halted at 528250 tonnes. Live warrants and Cancelled warrants closed at 247350 tonnes and 280900 tonnes. LME aluminium 3-month Asian Reference Price showed no change to close at US$2,159 per tonne.

SHFE aluminium price

Today, on August 24, the Shanghai Futures Exchange (SHFE) aluminium benchmark price has dropped by US$13 per tonne to clock at US$2,565 per tonne. Overnight, the most-traded SHFE 2309 aluminium contract opened at RMB 18,730 per tonne, with the lowest and highest prices at RMB 18,650 per tonne and RMB 18,735 per tonne before closing at RMB 18,685 per tonne, down RMB 40 per tonne or 0.21 per cent from the previous trading day.