LME aluminium price surged above US$2500/t; SHFE price slipped by US$10/t to close at US$2915/t

The LME complex ended mostly higher on Tuesday, June 29, with aluminium rose 0.4 per cent. LME aluminium benchmark price gained 2.45 per cent.

LME aluminium cash (bid) price and LME official settlement price surged by US$ 60.50 per tonne to come in at US$ 2,518.50 per tonne on Tuesday, June 29. 3-months bid price and 3-months offer price stood at US$ 2,533 per tonne, up by US$ 55.50 per tonne from US$ 2,477.50 per tonne. Dec 22 bid price and Dec 22 offer price increased from US$ 2,437 per tonne on June 28 to US$ 2,475 per tonne on June 29.

LME aluminium opening stock further declined from 1586150 tonnes to 1577175 tonnes. Live Warrants totalled 941875 tonnes, while Cancelled Warrants stood at 635300 tonnes.

LME aluminium 3-months Asian Reference Price grew from US$ 2,487.67per tonne to US$ 2,519.91 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE slipped US$ 10 per tonne to stand at US$ 2,915 per tonne on Wednesday, June 30.

The most active SHFE 2108 aluminium contract finished the day 0.24 per cent lower at RMB 18,820 per tonne, with open interest down 12,000 lots to 217,312 lots.