LME aluminium live price chart catalogues US$24/t spike on August 30; SHFE aluminium price soars by US$41/t

LME aluminium opened at US$2,172.50 per tonne on Wednesday, with its high and low at US$2,207 per tonne and US$2,164.5 per tonne, respectively, before closing at US$2,201.50 per tonne, an increase of US$33 per tonne or 1.52 per cent from the previous trading day.

The LME aluminium live price chart on August 30 experienced uniform growth, with the LME aluminium cash bid price and the LME aluminium official price gaining US$24 per tonne or 1.13 per cent to officially close at US$2,140 per tonne and US$2,140.50 per tonne, respectively. 

London Metal Exchange graph showed that the 3-month bid price and the 3-month official price have ascended by US$19.50 per tonne or 0.9 per cent to close at US$2,178.50 per tonne and US$2,179.50 per tonne. 

The December 24 bid price and the December 24 official price have both increased by US$15 per tonne or 0.65 per cent to settle at US$2,328 per tonne and US$2,333 per tonne. 

LME aluminium opening stock recorded a massive fall of 6,650 tonnes or 1.27 per cent to arrive at 517,375 tonnes. Live warrants stood at 232,600 tonnes, and cancelled warrants were parked at 284,775 tonnes, the former heightening by 2,025 tonnes and the latter shedding a lump sum of 8,675 tonnes.  

LME aluminium 3-month Asian Reference Price halted at US$2,170.38 per tonne, up US$4.84 per tonne or 0.22 per cent. 

SHFE aluminium price

Today, on August 31, the Shanghai Futures Exchange (SHFE) aluminium benchmark price has levitated by US$41 per tonne or 1.58 per cent to anchor at US$2,632 per tonne. 

Overnight, the most-traded SHFE 2309 aluminium contract opened at RMB 18,840 per tonne, with the lowest and highest prices at RMB 18,830 per tonne and RMB 19,035 per tonne before closing at RMB 18,970 per tonne, up RMB 250 per tonne or 1.34 per cent from the previous trading day. 

SHFE 2307 aluminium added RMB 595 per tonne or 3.38 per cent to RMB 18,185 per tonne. The open interest fell 11,785 lots to 256,640 lots.