LME aluminium price drops by US$13.5/t to US$2,170.5/t; SHFE price grows to US$2,582/t

LME aluminium opened at US$2,238 per tonne on Wednesday, with its high and low at US$2,240 per tonne and US$2,206 per tonne, respectively, before closing at US$2,208 per tonne, a decrease of US$28.5 per tonne or 1.27 per cent.

On Wednesday, July 26, both LME aluminium cash bid price and LME aluminium official settlement price descended by US$13 per tonne or 0.59 per cent and US$13.5 per tonne or 0.61 per cent to halt at US$2,170 per tonne and US$2,170.50 per tonne.

3-month bid price and 3-month offer price moved down the graph by US$12 per tonne or 0.53 per cent and US$11.5 per tonne or 0.51 per cent to halt at US$2,214 per tonne, and US$2,215 per tonne. December 24 bid price and December 24 offer price dipped by US$15 per tonne to stand at US$2,370 per tonne and US$2,375 per tonne.

LME aluminium opening stock closed at 514025 tonnes. Live warrants and Cancelled warrants came in at 284075 tonnes and 229950 tonnes. LME aluminium 3-month Asian Reference Price, on the other hand, went up by US$0.02 per tonne to stop at US$2,237 per tonne.

SHFE aluminium price

On Thursday, July 27, the aluminium benchmark price on the Shanghai Futures Exchange (SHFE) expanded by US$17 per tonne or 0.66 per cent to clock at US$2,582 per tonne.

Overnight, the most-traded SHFE lead contract opened at RMB 15,970 per tonne and hit a session low of RMB 15,895 per tonne, and finally closed at RMB 15,905 per tonne, down RMB 80 per tonne, or 0.5 per cent.