LME aluminium official price contracts by US$55/t to US$2,397/t; SHFE price drops by US$44/t

LME aluminium opened at US$2,472 per tonne on Thursday and closed at US$2,444 per tonne, down US$28.5 per tonne or 1.15 per cent.

On Thursday, June 30, both LME aluminium cash bid price and LME aluminium official settlement price plunged by US$54.5 per tonne or 2.22 per cent and US$55 per tonne or 2.24 per cent to score at US$2,396.50 per tonne and US$2,397 per tonne.

3-month bid price and 3-month offer price dropped by US$49.5 per tonne or 2 per cent to settle at US$2,420.50 per tonne and US$2,421 per tonne.

December 23 bid price and December 23 offer price drifted lower by US$48 per tonne to score at US$2,452 per tonne and US$2,457 per tonne.

LME aluminium opening stock settled at 373275 tonnes. Live warrants and Cancelled warrants are pegged at 158200 tonnes and 215075 tonnes.

LME aluminium 3-month Asian Reference Price declined by US$18.4 per tonne or 0.74 per cent to stop at US$2,458.96 per tonne.

SHFE aluminium price 

Today, on July 1, the SHFE benchmark aluminium price has also recorded a drop of US$44 per tonne or 1.52 per cent to stand at US$2,839 per tonne.

The most-traded SHFE 2208 aluminium closed down 1.42 per cent or RMB 275 per tonne to RMB 19,060 per tonne, with open interest down 6,858 lots to 181,861 lots.

Overnight, the most-traded SHFE 2208 aluminium contract opened at RMB 18,940 per tonne, with its and high at RMB 18,875 per tonne and RMB 19,080 per tonne before closing at RMB 19,060 per tonne, down RMB 200 per tonne or 1.04 per cent.