LME aluminium price drops to US$2,085.5/t; SHFE price slips by US$2/t to US$2,535/t

LME aluminium opened at US$2,147 per tonne on Tuesday, with its high and low at US$2,171.5 per tonne and US$2,136.5 per tonne, respectively, before closing at US$2,141.5 per tonne, a decrease of US$4.5 per tonne or 0.21 per cent from the previous trading day.

On Tuesday, August 15, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$10.5 per tonne or 0.50 per cent to settle at US$2,085 per tonne and US$2,085.50 per tonne.

The 3-month bid price and 3-month offer price also fell by US$8 per tonne and US$6.5 per tonne to halt at US$2,138 per tonne and US$2,140 per tonne. December 24 bid price and December 24 offer price inched down by US$2 per tonne or 0.08 per cent to close at US$2,310 per tonne and US$2,315 per tonne.

LME aluminium opening stock came in at 490800 tonnes. Live warrants and Cancelled warrants settled at 281125 tonnes and 209675 tonnes. LME aluminium 3-month Asian Reference Price, on the other hand, hiked by US$10.38 per tonne or 0.48 per cent to close at US$2,166.06 per tonne.

SHFE aluminium price

Today, on August 16, the aluminium benchmark price at the Shanghai Futures Exchange (SHFE) has climbed down by US$2 per tonne or 0.07 per cent to reside at US$2,535 per tonne. Overnight, the most-traded SHFE 2309 aluminium contract opened at RMB 18,405 per tonne, with the lowest and highest prices at RMB 18, 390 per tonne and RMB 18,535 per tonne before closing at RMB 18,465 per tonne, up RMB 100 per tonne or 0.54 per cent from the previous trading day.