On Thursday, June 20, three-month LME aluminium contract opened at US$2,493 per tonne, reached a high of US$2,525.50 per tonne and a low of US$2,491 per tonne, and closed at US$2,521 per tonne, up US$31.50 per tonne, an increase of 1.27 per cent.
On the same day, LME aluminium cash bid price and LME aluminium official settlement price expanded for the second consecutive day by US$15.50 per tonne and US$16 per tonne, respectively, to stand at US$2,460 per tonne and US$2,461 per tonne.
However, despite the back-to-back increase, the LME aluminium benchmark price stood week-on-week down by US$37 per tonne or 1.48 per cent from US$2,498 per tonne and even lower by US$107 per tonne or 4.2 per cent from US$2,568 per tonne.
On June 20, 3-month bid price and 3-month offer price also increased, albeit at a lower rate, by US$6 per tonne to reach US$2,508 per tonne and US$2,509 per tonne. December-25 bid price and December-25 offer price amounted to US$2,652 per tonne and US$2,657 per tonne, up by US$7 per tonne from the previous trading day.
LME aluminium opening stock shed off by 5,575 tonnes, amounting 1,061,000 tonnes on June 20. Live Warrants and Cancelled Warrants totalled 463,575 tonnes and 597,425 tonnes.
3-month Asia Reference Price continued to grow by US$12.74 per tonne to US$2,507.97 per tonne.
SHFE aluminium price
On Friday, June 21, the SHFE aluminium benchmark price fell for the second day in a row by US$5 per tonne to stand at US$2,818 per tonne, marking a week-on-week decline of US$13 per tonne or 0.46 per cent from US$2,831 per tonne.
Overnight, the most-traded SHFE 2408 aluminium contract opened at RMB 20,595 per tonne, reaching a high of RMB 20,630 per tonne and a low of RMB 20,550 per tonne, and closed at RMB 20,630 per tonne, up RMB 35 per tonne.
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