LME opens the week with a growth of US$17.5/t to US$2,417/t; SHFE slumps by US$50/t

LME aluminium opened at US$2,436.5 per tonne on Monday and closed at US$2,377 per tonne, down US$66.5 per tonne or 2.72 per cent.

On Monday, July 11, both LME aluminium cash bid price and LME aluminium official settlement price opened the week with a growth of US$17 per tonne or 0.70 per cent and US$17.5 per tonne or 0.72 per cent to close at US$2,416 per tonne and US$2,417 per tonne.

On the same day, both 3-month bid price and 3-month offer price also climbed up by US$7 per tonne or 0.28 per cent and US$8.5 per tonne or 0.35 per cent to close at US$2,421 per tonne and US$2,423 per tonne.

December 23 bid price and December 23 offer price dropped by US$2 per tonne or 0.08 per cent to score at US$2,433 per tonne and US$2,438 per tonne.

LME aluminium opening stock settled at 343825 tonnes. Live warrants and Cancelled warrants were recorded at 156300 tonnes and 187525 tonnes.

LME aluminium 3-month Asian Reference Price descended by US$3.81 per tonne or 0.15 per cent to stand at US$2,412.60 per tonne.

SHFE aluminium price 

As of today, on July 12, the SHFE benchmark price has declined by US$50 per tonne or 1.83 per cent to stand at US$2,669 per tonne.

The most-traded SHFE 2208 aluminium closed down 1.76 per cent or RMB 325 per tonne to RMB 18,180 per tonne, with open interest up 1,158 lots to 173,231 lots.

Overnight, the most-traded SHFE 2208 aluminium contract opened at RMB 18,180 per tonne and hit a 15-month low of RMB 17,825 per tonne before closing at RMB 17,910 per tonne, down RMB 270 per tonne or 1.49 per cent.