LME aluminium benchmark price moves up to US$2493.50/t; SHFE price drops by US$19/t

LME aluminium opened at US$2,547 per tonne in the previous trading day, hitting a high of US$2,552 per tonne and a low of US$2,518 per tonne, and closed at US$2,527 per tonne, down US$22.5 per tonne or 0.88 per cent from the previous closing price.

On Thursday, July 4, both LME aluminium cash bid price and LME aluminium official settlement price went up by US$6 per tonne or 0.24 per cent and US$6.5 per tonne or 0.26 per cent to settle at US$2,492.50 per tonne and US$2,493.50 per tonne.

As per the LME price graph, 3-month bid price and 3-month offer price increased by US$4 per tonne or 0.15 per cent and US$4.5 per tonne or 0.17 per cent to settle at US$2,540 per tonne and US$2,541 per tonne.

December 25 bid price and December 25 offer price also moved up by US$3 per tonne or 0.11 per cent to settle at US$2,683 per tonne and US$2,688 per tonne. LME aluminium opening stock came in at 1004825 tonnes.

Live warrants and Cancelled warrants stood at 466400 tonnes and 538425 tonnes. LME aluminium 3-month Asian Reference Price also hiked by US$12.5 per tonne or 0.49 per cent to halt at US$2,543.01 per tonne.

SHFE aluminium price

On Thursday, July 5, the SHFE aluminium benchmark price dropped by US$19 per tonne or 0.67 per cent to dock at US$2,790 per tonne. Overnight, the most-traded SHFE 2408 aluminium contract opened at RMB 20,405 per tonne, reaching a high of RMB 20,520 per tonne and a low of RMB 20,340 per tonne, and closed at RMB 20,395 per tonne, down RMB 25 per tonne or 0.12 per cent from the previous close.