Three-month LME aluminium rose 1.46 per cent to close at US$ 2,531 per tonne on Monday. It is expected to trade between US$ 2,480 per tonne and US$ 2,550 per tonne today.
LME aluminium cash (bid) price and LME official settlement price increased by US$ 7 per tonne to come in at US$ 2,458 per tonne on Monday, June 28. 3-months bid price and 3-months offer price stood at US$ 2,477.50 per tonne, up by US$ 7.5 per tonne from US$ 2,470 per tonne. However, Dec 22 bid price and Dec 22 offer price decreased from US$ 2,443 per tonne on June 25 to US$ 2,437 per tonne on June 28.
LME aluminium opening stock further declined from 1596450 tonnes to 1586150 tonnes. Live Warrants remained restrained at 941875 tonnes, while Cancelled Warrants stood dropped to 644275 tonnes.
Meanwhile, LME aluminium 3-months Asian Reference Price grew from US$ 2,453.32 per tonne to US$ 2,487.67per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE inched up by only US$ 1 per tonne to stand at US$ 2,925 per tonne on Tuesday, June 29.
The most-liquid SHFE 2108 aluminium contract finished the day 0.37 per cent higher at RMB 18,895 per tonne. Open interest rose 873 lots to 227,843 lots.
The most-liquid SHFE 2108 aluminium contract fell 0.16 per cent to settle at RMB 18,865 per tonne on Monday night, and is likely to trade between RMB 18,600-19,100 per tonne today.
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