LME aluminium benchmark price closes higher at US$2437/t; SHFE gains US$29/t

LME aluminium opened at US$2,406.5 per tonne on Tuesday and closed at US$2,422 per tonne, an increase of US$14 per tonne or 0.58 per cent.

LME aluminium cash bid price stopped at US$2,435 per tonne, with a 0.16 per cent or US$4 per tonne escalation on Tuesday, July 26, while LME aluminium official settlement price rested at US$2,437 per tonne, experiencing a price hike of 0.23 per cent or US$5.50 per tonne.

The 3 month bid price dropped by US$6 per tonne or 0.25 per cent to USD2,425 per tonne, while the offer price shed US$5 per tonne or 0.2 per cent to USD2,427 per tonne.

December 23 bid price and December 23 offer price plummeted by US$3 per tonne or 0.12 per cent to rest at US$2,467 per tonne and US$2,472 per tonne, respectively.

LME aluminium opening stock continued to shrink by 1.27 per cent or 3,925 tonnes, from 308,050 tonnes to 304,125 tonnes as of July 26.

Live warrants totalled 148,800 tonnes, with no alteration from the previous day.

Cancelled warrants read 155,325 tonnes, decreasing by 2.46 per cent or 3,925 tonnes from the previous day.

LME aluminium 3-month Asian Reference Price plunged by 0.61 per cent or US$14.96 per tonne, stopping at US$2,428.54 per tonne.

SHFE aluminium price

Today, on July 27, the SHFE benchmark aluminium price has gained US$29 per tonne or 1.1 per cent to stand at US$2,671 per tonne, compared with the data collected last day.

The most-traded SHFE 2209 aluminium contract opened at RMB 17,985 per tonne overnight and rose to RMB 18,025 per tonne before closing at RMB 17,950 per tonne, down RMB 45 per tonne or 0.25 per cent.

The most-traded SHFE 2209 aluminium closed up 0.19 per cent or RMB 35 per tonne to RMB 17,995 per tonne, with open interest up 6,981 lots to 174,204 lots.

source https://www.alcircle.com/news/lme-aluminium-benchmark-price-closes-higher-at-us2437-t-shfe-gains-us29-t-82093