LME aluminium price drifts lower by US$6/t to US$2,452/t; SHFE price falls by US$48/t

LME aluminium opened at US$2,462 per tonne last Friday and closed at US$2,482.5 per tonne, an increase of US$17.5 per tonne or 0.71 per cent.

After witnessing a hike the previous day, both LME aluminium cash bid price and LME aluminium official settlement price slumped by US$7 per tonne or 0.28 per cent and US$6 per tonne or 0.24 per cent on Friday, July 29. The price for the former closed at US$2,450 per tonne, while the latter stood at US$2,452 per tonne.

3-month bid price and 3-month offer price also declined by US$8 per tonne or 0.32 per cent to peg at US$2,437.50 per tonne and US$2,438 per tonne.

December 23 bid price and December 23 offer price slipped by US$7 per tonne or 0.28 per cent to rest at US$2,478 per tonne and US$2,483 per tonne.

LME aluminium opening stock halted at 291025 tonnes. Live warrants and Cancelled warrants rested at 145350 tonnes and 145675 tonnes.

LME aluminium 3-month Asian Reference Price, on the other hand, hiked by US$8.83 per tonne or 0.35 per cent to close at US$2,473.82 per tonne.

SHFE aluminium price 

On Monday, August 1, the SHFE benchmark aluminium price has dropped by US$48 per tonne or 1.72 per cent to stop at US$2,727 per tonne.

The most-traded SHFE 2209 aluminium closed up 2.24 per cent or RMB 410 per tonne to RMB 18,750 per tonne, with open interest up 2,973 lots to 180,533 lots.

The most-traded SHFE 2209 aluminium contract opened at RMB 18,700 per tonne overnight and rose to RMB 18,775 per tonne before closing at RMB 18,705 per tonne, down RMB 25 per tonne or 0.13 per cent.