LME aluminium price built up by US$20.5/t through the week to settle at US$2452/t; SHFE closed higher at US$2775/t

On Monday, July 25, LME aluminium cash bid price and LME aluminium official settlement price started the week with a downfall of US$28 per tonne and US$28.5 per tonne, respectively, to stand at US$2,431 per tonne and US$2,431.50 per tonne. On Tuesday, the prices increased by US$4 per tonne and US$5.50 per tonne to come in at US$2,435 per tonne and US$2,437 per tonne, which, however, nosedived the next day by US$45 per tonne and US$46.50 per tonne to US$2,390 per tonne and US$2,390.50 per tonne, respectively. On Thursday, the prices stopped at US$2,457 per tonne and US$2,458 per tonne, up by US$67 per tonne and US$67.50 per tonne. On Friday, July 29, both LME aluminium cash bid price and LME aluminium official settlement price again dropped on an alternate day by US$7 per tonne and US$6 per tonne to close the week at US$2,450 per tonne and US$2,452 per tonne, respectively.

3-month bid price and 3-month offer price also initiated the week lower at US$2,431 per tonne and US$2,432 per tonne, which continued to drop on Tuesday, July 26, to US$2,425 per tonne and US$2,427 per tonne. On Wednesday, July 27, the prices plunged by US$39.50 per tonne and US$40.50 per tonne to clock at US$ 2,385.50 per tonne and US$2,386.50 per tonne. On Thursday, both 3-month bid price and 3-month offer price grew after three consecutive downfalls to US$2,445.50 per tonne and US$2,446 per tonne, which again dwindled the next day to settle at US$2,437 per tonne and US$2,438 per tonne, respectively.

December 23 bid price and December 23 offer price also closed the week higher at US$2,478 per tonne and US$2,483 per tonne from US$2,470 per tonne and US$2,475 per tonne on Monday, July 25.

LME aluminium opening stock decreased through the week from 308050 tonnes on Monday to 291025 tonnes on Friday.

SHFE aluminium price

The benchmark aluminium price for SHFE climbed up through the week from US$2,665 per tonne on July 25 to US$2,775 per tonne on July 29. On Tuesday, the price fell by US$23 per tonne to US$2,642 per tonne but geared up for the rest of the week. On Wednesday, July 27, the price rebounded to US$2,671 per tonne, which further rose on Thursday, July 28 by US$60 per tonne to US$2,731. On Friday, July 29, the price closed the week ever higher at US$2,775 per tonne.