LME aluminium opened at US$2,230 per tonne on Tuesday, with its high and low at US$2,233 per tonne and US$2,198 per tonne respectively before closing at US$2,198 per tonne, a decrease of US$32 per tonne or 1.4 per cent from the previous trading day.
The London Metal Exchange, on August 8, experienced a slump of US$35.50 per tonne or 1.63 per cent and US$35 per tonne or 1.6 per cent in LME aluminium cash bid price and the LME aluminium official settlement price, respectively with the former being stuck at US$2,142 per tonne and the latter halting at US$2,143 per tonne.
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If we consider May 9, the LME official price was US$2,321 per tonne, which has decreased US$178 per tonne or 7.67 per cent Quarter-on-Quarter to reach what it was yesterday.
LME 3-month bid price and LME 3-month offer price narrowed down by US$35 per tonne or 1.57 per cent, settling down at US$2,194 per tonne and US$2,195 per tonne.
December 24 bid price and December 24 offer price both dives by US$30 per tonne or 1.25 per cent to mark a price of US$2,363 per tonne and US$2,368 per tonne.
LME aluminium opening stock stood at 498900 tonnes, with a sufficient drop of 2,425 tonnes or 0.48 per cent.
Live warrants and Cancelled warrants settled at 277675 tonnes and 221225 tonnes, respectively.
LME aluminium 3-month Asian Reference Price stood at US$2,220.89 per tonne after recording a plunge of US$7.87 per tonne or 0.35 per cent.
SHFE aluminium price
Today, on August 9, the aluminium benchmark price at the Shanghai Futures Exchange (SHFE) has refrained from any change remaining stoic at US$2,565 per tonne. There has been a Quarter-on-Quarter depletion of US$85 per tonne or 3.2 per cent if we seek the SHFE aluminium price on May 9, which was US$2,650 per tonne.
Overnight, the most-traded SHFE 2309 aluminium contract opened at RMB 18,385 per tonne, with the lowest and highest prices at RMB 18,345 per tonne and RMB 18,410 per tonne before closing at RMB 18,380 per tonne, down RMB 110 per tonne or 0.59 per cent from the previous trading day.
SHFE 2307 aluminium added RMB 595 per tonne or 3.38 per cent to RMB 18,185 per tonne. The open interest fell 11,785 lots to 256,640 lots.
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