LME aluminium benchmark price contracts by US$23/t; SHFE price slumps to US$2682/t

On Friday, July 19, both LME aluminium cash bid price and LME aluminium official settlement price slumped by US$22.5 per tonne or 0.96 per cent and US$23 per tonne or 0.98 per cent to settle at US$2,311.50 per tonne and US$2,312 per tonne.

3-month bid price and 3-month offer price dwindled by US$29 per tonne to clock at US$2,367 per tonne and US$2,368 per tonne. As per the LME data, December 25 bid price and December 25 offer price dropped by US$27 per tonne or 1.05 per cent to dock at US$2,528 per tonne and US$2,533 per tonne.

On the same day, LME aluminium opening stock came in at 960075 tonnes. Live warrants and Cancelled warrants stood at 407025 tonnes and 553050 tonnes. LME aluminium 3-month Asian Reference Price contracted by US$46.9 per tonne or 1.93 per cent to peg at US$2,378.37 per tonne.