On Monday, the LME aluminum price opened at $2,299 per tonne (with a high of $2,331.5 per tonne, a low of $2,297 per tonne) and closed at $2,309 per tonne, up $14 per tonne or 0.61 percent.
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After rising to USD 58.5 per tonne on Friday, August 9, both the LME aluminium cash bid price and the LME official aluminium settlement price recorded sluggish growth on Monday, August 13. According to the data, both the LME aluminium cash bid price and the LME official aluminium settlement price opened the week with growth of USD 4.5 per tonne, or 0.19 percent, and USD 5 per tonne, or 0.22 percent, respectively. Prices settled at USD 2,267 per tonne and USD 2,268 per tonne, respectively.
The 3-month bid price and the 3-month offer price also increased by USD 2 per tonne, or 0.08 percent, and USD 2.5 per tonne, or 0.10 percent, to settle at USD 2,320 per tonne and USD 2,321 per tonne, respectively. The December 25 bid price and the offer price, however, decreased by USD 3 per tonne, or 0.12 percent, to settle at USD 2,465 per tonne and USD 2,470 per tonne, respectively.
The opening inventory of aluminum on the LME was 903,600 tonnes. The number of valid and cancelled warrants was 354,800 and 548,800 tonnes respectively. The 3-month reference price for aluminum on the LME rose by USD 23.69 per tonne or 1.03 percent to USD 2,316.80 per tonne.
SHFE Aluminium Award
On Tuesday, August 13, the SHFE benchmark aluminum price fell by USD 13 per tonne, or 0.48 percent, to settle at USD 2,653 per tonne. The most traded SHFE aluminum contract 2409 opened overnight at RMB 19,210 per tonne, with a high of RMB 19,210 per tonne, a low of RMB 19,105 per tonne, and closed at RMB 19,140 per tonne, up RMB 17 per tonne, or 0.09 percent.
