LME Aluminium Benchmark Price Falls by US$7.5/t; SHFE Price Gains US$8/t

SEATTLE (Scrap Monster):  The previous trading day, LME Aluminum opened at US$2,496 per tonne, with a high of US$2,516 per tonne, a low of US$2,482 per tonne, and closed at US$2,511.5 per tonne, up US$14.97 per tonne, an increase of 0.6 per cent.

On Wednesday, June 26, both LME aluminium cash bid price and LME aluminium official settlement price dropped by US$7.5 per tonne or 0.71 per cent and 0.30 per cent to settle at US$2,443.50 per tonne and US$2,444 per tonne.

As per the SMM price graph, 3-month bid price and 3-month offer price lost US$6 per tonne or 0.24 per cent and US$5 per tonne or 0.20 per cent to peg at US$2,492 per tonne and US$2,494 per tonne. December 25 bid price and December 25 offer price moved down by US$2 per tonne or 0.07 per cent to settle at US$2,638 per tonne and US$2,643 per tonne.

LME aluminium opening stock came in at 1038725 tonnes. Live warrants and Cancelled warrants stood at 466500 tonnes and 572225 tonnes.  LME aluminium 3-month Asian Reference Price also dipped by US$3.13 per tonne or 0.12 per cent to clock at US$2,500.66 per tonne.

SHFE aluminium price

On Thursday, June 27, the SHFE aluminium benchmark price increased by US$8 per tonne or 0.28 per cent to settle at US$2,783 per tonne. The overnight SHFE 2408 most-traded aluminium contract opened at RMB 20,320 per tonne, with a high of RMB 20,380 per tonne, a low of RMB 20,250 per tonne, and closed at RMB 20,300 per tonne, up RMB 70 per tonne, an increase of 0.35 per cent.

Courtesy: www.alcircle.com