LME aluminium price hikes to US$2,178/t; SHFE price dips by US$10/t

LME aluminium opened at US$2,213 per tonne on Thursday, with its high and low at US$2,233 per tonne and US$2,197 per tonne, respectively, before closing at US$2,232.5 per tonne, an increase of US$22 per tonne or 1.02 per cent.

On Monday, August 7, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$13.5 per tonne or 0.62 per cent and US$12 per tonne or 0.55 per cent to settle at US$2,177.50 per tonne and US$2,178 per tonne.

3-month bid price and 3-month offer price gained US$19 per tonne or 0.85 per cent to score at US$2,229 per tonne and US$2,230 per tonne. December 24 bid price and December 24 offer price went up by US$10 per tonne or 0.41 per cent to come in at US$2,393 per tonne and US$2,398 per tonne.

LME aluminium opening stock came in at 501325 tonnes. Live warrants and Cancelled warrants resided at 277675 tonnes and 223650 tonnes. LME aluminium 3-month Asian Reference Price stood at US$2.228.76 per tonne after moving up by US$5.76 per tonne.

SHFE aluminium price

Today, August 8, the aluminium benchmark price at the Shanghai Futures Exchange (SHFE) dropped by US$10 per tonne or 0.38 per cent to halt at US$2,565 per tonne.

Overnight, the most-traded SHFE 2309 aluminium contract opened at RMB 18,415 per tonne, with the lowest and highest prices at RMB 18,390 per tonne and RMB 18,495 per tonne before closing at RMB 18,480 per tonne, up RMB 30 per tonne or 0.16 per cent.