LME aluminum opened at $2,475 per tonne, with a high of $2,547.5 per tonne and a low of $2,473.5 per tonne. It closed at $2,533.5 per tonne, up $67 per tonne or 2.72 percent.
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On Friday, August 23, both the LME cash bid price for aluminium and the LME official settlement price for aluminium increased by USD 28.5 per tonne, or 1.15 percent, and USD 28 per tonne, or 1.13 percent, respectively, to settle at USD 2,498.50 per tonne and USD 2,499 per tonne, respectively.
The LME aluminum price has risen for the fifth day in a row. Overall, the price has risen by $129.5 per tonne, or 5.46 percent, from Monday to Friday, from $2,369.50 per tonne on Monday. Since Friday, both the 3-month bid price and the 3-month ask price have risen by $16 per tonne and $16.5 per tonne, respectively, to stand at $2,508.50 per tonne and $2,509 per tonne, respectively.
The bid price and offer price on December 25 increased by USD 12 per tonne, or 0.45 percent, to settle at USD 2,635 per tonne and USD 2,640 per tonne, respectively. Opening aluminum inventory on the LME was 870,950 tonnes. Open and cancelled warrants closed at 346,625 tonnes and 524,325 tonnes, respectively.
The 3-month benchmark price for aluminum on the LME in Asia rose by USD 2.79 per tonne, or 0.11 percent, to remain at USD 2,490.46 per tonne.
SHFE Aluminium Award
On Monday, August 20, the SHFE benchmark price of aluminum rose by USD 3 per tonne, or 0.10 percent, on the chart to settle at USD 2,787 per tonne. Last Friday evening, the most traded SHFE aluminum contract 2410 opened at RMB 19,880 per tonne, with a session high of RMB 19,970 per tonne and a low of RMB 19,840 per tonne, and closed at RMB 19,925 per tonne, up RMB 130 per tonne, or 0.66 percent.
