Three-month LME aluminium closed 1.45 per cent higher at US$ 2,521 per tonne on Wednesday, with open interest decreasing 943 lots to 668,000 lots, and is expected to trade between US$ 2,500-2,550 per tonne today.
LME aluminium cash (bid) price and LME official settlement price again exceeded US$ 2,500 per tonne mark to stand at US$ 2,516 per tonne by gaining US$ 18.50 per tonne on Wednesday, July 28. However, 3-months bid price and 3-months offer price rose by US$ 12 per tonne to come in at US$ 2,504 per tonne. Dec 22 bid price and Dec 22 offer price increased from US$ 2,466.50 per tonne to US$ 2,480 per tonne.
LME aluminium opening stock continued to decrease from 1408000 tonnes to 1401500 tonne. Live Warrants remained restrained at 831825 tonnes, while Cancelled Warrants totalled 569675 tonnes.
LME aluminium 3-months Asian Reference Price hovered around US$ 2,480.50 per tonne as of July 28.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE edged 1.17 per cent higher to stand at US$ 3,019 per tonne as of Thursday, July 29.
The most-traded SHFE 2109 aluminium closed down at RMB 19370 per tonne, with open interest down 24677 lots to 261995 lots.
The most-active SHFE 2109 aluminium contract increased 0.51 per cent to end at RMB 19,555 per tonne last night, with open interest down 403 lots to 262,000 lots, and is expected to trade between RMB 19,200-19,600 per tonne today.
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