LME aluminium price drops to US$2,068.5/t; SHFE price hikes by US$35/t to US$2,559/t

LME aluminium opened at US$2,147 per tonne on Monday, with its high and low at US$2,150.5 per tonne and US$2,115 per tonne, respectively, before closing at US$2,145.5 per tonne, an increase of US$7 per tonne or 0.33 per cent from the previous trading day.

On Monday, August 21, both LME aluminium cash bid price and LME official settlement price dropped by US$27.5 per tonne to settle at US$2,068 per tonne and US$2,068.50 per tonne. On the same day, both the 3-month bid price and 3-month offer price also dipped by US$15 per tonne or 0.70 per cent and US$48.5 per tonne or 2.23 per cent to halt at US$2,122 per tonne and US$2,123 per tonne.

December 24 bid price and December 24 offer price lost US$12 per tonne or 0.52 per cent to rest at US$2,288 per tonne and US$2,293 per tonne. LME aluminium opening stock halted at 491050 tonnes. Live warrants and Cancelled warrants closed at 208575 tonnes and 282475 tonnes.

LME aluminium 3-month Asian Reference Price decreased by US$5.9 per tonne or 0.27 per cent to halt at US$2,138.47 per tonne.

SHFE aluminium price

Today, on August 22, the aluminium benchmark price at the Shanghai Futures Exchange (SHFE) has gained US$35 per tonne or 1.38 per cent to reach US$2,559 per tonne. Overnight, the most-traded SHFE 2309 aluminium contract opened at RMB 18,460 per tonne, with the lowest and highest prices at RMB 18,460 per tonne and RMB 18,530 per tonne before closing at RMB 18,515 per tonne, up RMB 25 per tonne or 0.14 per cent from the previous trading day.