On Tuesday, July 9, the three-month LME aluminum contract price opened at US$2,534 per tonne, reached a high of US$2,536.50 per tonne and a low of US$2,490.50 per tonne, and closed at US$2,497 per tonne, down US$32 per tonne from the previous closing price, a decrease of 1.27 per cent.
LME aluminium cash bid price and LME aluminium official settlement price decreased by US$7 per tonne, marking the second consecutive day of fall, standing at US$2,468 per tonne and US$2,468.50 per tonne, respectively.
With the latest decline, the LME aluminium benchmark price edged a week-on-week decline of US$21 per tonne from US$2,489.50 and a month-on-month plunge of US$47 per tonne from US$2,515.50 per tonne.
3-month bid price and 3-month offer price slipped by US$6.50 per tonne on the same day to come in at US$2,525 per tonne and US$2,525.50 per tonne. Meanwhile, December-25 bid price and December-25 offer price gained US$2 per tonne to peg at US$2,680 per tonne and US$2,685 per tonne, respectively.
On July 9, LME aluminium opening stock shed off 5,650 tonnes to reach 988,525 tonnes. Live Warrants and Cancelled Warrants amounted to 446,575 tonnes and 541,950 tonnes, down by 0.30 per cent and 0.80 per cent from the previous day.
LME aluminium 3-month Asian Reference Price dipped US$2.90 per tonne to stand at US$2,530.90 per tonne.
SHFE aluminium price
On Wednesday, July 10, the SHFE aluminium benchmark price dwindled by US$18 per tonne to stand at US$2,782 per tonne after touching the US$2,800 per tonne level on the previous day. On a month-on-month calculation, the SHFE price is down by US$140 per tonne or 4.79 per cent from US$2,922 per tonne.
Overnight, the most-traded SHFE aluminum 2408 contract opened at RMB 20,415 per tonne, reaching a high of RMB 20,440 per tonne and a low of RMB 20,270 per tonne, and closed at RMB 20,300 per tonne, down RMB 160 per tonne from the previous trading day, a decrease of 0.78 per cent.
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