LME aluminium price gains US$21.5/t to US$2,217/t; SHFE price drops by US$19/t

LME aluminium opened at US$2,204.5 per tonne on Tuesday, with its high and low at US$2,286 per tonne and US$2,244 per tonne, respectively, before closing at US$2,253 per tonne, a decrease of US$34 per tonne, or 1.49 per cent, from Monday.

On Tuesday, August 1, both LME aluminium cash bid price and LME aluminium official settlement price gained US$21 per tonne or 0.95 per cent and US$21.5 per tonne or 0.97 per cent to settle at US$2,216 per tonne and US$2,217 per tonne.

On the same day, 3-month bid price and 3-month offer price grew by US$20 per tonne or 0.89 per cent to halt at US$2,260 per tonne and US$2,262 per tonne. December 24 bid price and December 24 offer price were hiked by US$17 per tonne or 0.70 per cent to close at US$2,417 per tonne and US$2,422 per tonne.

LME aluminium opening stock settled at 505550 tonnes. Live warrants and Cancelled warrants scored at 280975 tonnes and 224575 tonnes. LME aluminium 3-month Asian Reference Price ascended by US$39.47 per tonne or 1.77 per cent to peg at US$2,267.01 per tonne.

SHFE aluminium price

On August 2, the benchmark aluminium price at the Shanghai Futures Exchange (SHFE) dropped by US$19 per tonne or 0.72 per cent to reach US$2,589 per tonne.

Overnight, the most-traded SHFE 2309 aluminium contract opened at RMB 18,520 per tonne, with the lowest and highest prices at RMB 18,510 per tonne and RMB 18,510 per tonne before closing at RMB 18,545 per tonne, down RMB 40 per tonne or 0.22 per cent.