LME aluminium benchmark price hikes by US$28/t; SHFE price grows to US$2784/t

Overnight, LME 3M aluminium opened at US$2,482 per tonne, hit a high of US$2,531 per tonne, a low of US$2,466 per tonne, and closed at US$2,466.5 per tonne, down US$14.5 per tonne or 0.58 per cent.

On Thursday, August 22, both LME aluminium cash bid price and LME aluminium official settlement price gained US$27.5 per tonne or 1.12 per cent and US$28 per tonne or 1.14 per cent to settle at US$2,470 per tonne and US$2,471 per tonne.

As per the LME data, both 3-month bid price and 3-month offer price added US$15 per tonne or 0.60 per cent to settle at US$2,492 per tonne and US$2,492.50 per tonne. On the same day, both December 25 bid price and December 25 offer price ascended by US$10 per tonne or 0.38 per cent to halt at US$2,623 per tonne and US$2,628 per tonne.

LME aluminium opening stock came in at 874450 tonnes. Live warrants and Cancelled warrants stood at 346625 tonnes and 527825 tonnes. LME aluminium 3-month Asian Reference Price moved up by US$0.74 per tonne or 0.02 per cent to peg at US$2,487.67 per tonne.

SHFE aluminium price

On Friday, August 23, the SHFE aluminium benchmark price has hiked by US$18 per tonne or 0.65 per cent to settle at US$2,784 per tonne. Overnight, the most-traded SHFE aluminium 2410 contract opened at RMB 19,840 per tonne, hit a high of RMB 19,880 per tonne, a low of RMB 19,745 per tonne, and closed at RMB 19,825 per tonne, down RMB 45 per tonne or 0.22 per cent.