LME aluminium live price chart measures US$106/t M-o-M drop in aluminium ingot prices; SHFE aluminium earns US$6/t

LME aluminium opened at US$2,142 per tonne on Wednesday, with its high and low at US$2,151.5 per tonne and US$2,130 per tonne, respectively, before closing at US$2,145.5 per tonne, an increase of US$3 per tonne or 0.19 per cent from the previous trading day.

The London Metal Exchange, on August 16, experienced a minor spike in aluminium prices, with the LME aluminium cash bid price halting at US$2,088.50 per tonne, rising by US$3.50 per tonne or 0.17 per cent. The LME aluminium official settlement price too followed a similar price shift closing at US$2,089 per tonne.

When the July 17 price is considered, one can sight a US$106 per tonne or 4.83 per cent decrease Month-on-Month, as the LME aluminium price was US$2,195 per tonne that day. 

LME 3-month bid price and LME 3-month offer price both heightened by US$4 per tonne or 0.19 per cent, settling down at US$2,142 per tonne and US$2,144.50 per tonne. 

December 24 bid price and December 24 offer price gained US$2 per tonne or 0.09 per cent to book a price of US$2,312 per tonne and US$2,317 per tonne, as it was on August 14. 

LME aluminium opening stock stood at 488,600 tonnes, with a plunge of 2,200 tonnes or 0.45 per cent.

Live warrants and Cancelled warrants settled at 281,125 tonnes and 207,475 tonnes. The former remained stoic, while the latter dropped 2,200 tonnes or 1.05 per cent. 

LME aluminium 3-month Asian Reference Price halted at US$2,140.09 per tonne after losing US$25.97 per tonne or 1.2 per cent. 

SHFE aluminium price

Today, on August 17, the aluminium benchmark price at the Shanghai Futures Exchange (SHFE) has hurled up by US$6 per tonne or 0.24 per cent to lock at US$2,529 per tonne.

On July 17, the SHFE aluminium price was US$2,564 per tonne, which indicates there has been a Month-on-Month depletion of US$35 per tonne or 1.36 per cent. 

Overnight, the most-traded SHFE 2309 aluminium contract opened at RMB 18,485 per tonne, with the lowest and highest prices at RMB 18,450 per tonne and RMB 18,540 per tonne before closing at RMB 18,505 per tonne, up RMB 30 per tonne or 0.16 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 from 11,785 lots to 256,640 lots.