Three-month LME aluminium closed 2.99 per cent higher at US$ 2,596.50 per tonne on Thursday, with open interest increasing 1,850 lots to 670,000 lots, and is expected to trade between US$ 2,550-2,600 per tonne today.
LME aluminium cash (bid) price and LME official settlement price jumped by US$ 40.50 per tonne or 1.61 per cent to stand at US$ 2,556.50 per tonne on Thursday, July 29. 3-months bid price and 3-months offer price increased from US$ 2,504 per tonne to US$ 2,545.50 per tonne. Dec 22 bid price and Dec 22 offer price surged by USS$ 31 per tonne to US$ 2,511 per tonne.
LME aluminium opening stock declined from 1401500 tonnes to 1395225 tonnes. Live Warrants still remained restrained at 831825 tonnes, while Cancelled Warrants totalled 563400 tonnes.
LME aluminium 3-months Asian Reference Price hovered around US$ 2,547.24 per tonne as of July 29.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE edged US$ 58 per tonne higher to stand at US$ 3,077 per tonne as of Friday, July 30.
The most-traded SHFE 2109 aluminium closed up 0.64 per cent or RMB 125 per tonne to RMB 19680 per tonne, with open interest down 1958 lots to 260037 lots.
The most-active SHFE 2109 aluminium contract increased 1.92 per cent to end at RMB 19,945 per tonne last night, with open interest up 14,644 lots to 275,000 lots, and is expected to trade between RMB 19,500-19,900 per tonne today.
source https://www.alcircle.com/news/lme-aluminium-price-closes-1-61-higher-at-us2556-50-t-shfe-price-grows-to-us3077-t-68964
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