LME aluminium benchmark price gains US$17.5/t; SHFE price inches up by US$1/t

On Wednesday, June 19, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$17.5 per tonne or 0.72 per cent to clock at US$2,444.50 per tonne and US$2,445 per tonne. This rise was driven by short covering after recent declines caused by disappointing industrial output figures from China.

As per the LME price graph, both 3-month bid price and 3-month offer price gained US$21 per tonne or 0.86 per cent and US$20 per tonne or 0.80 per cent to halt at US$2,502 per tonne and US$2,503 per tonne. On the same day, December 25 bid price and December 25 offer price ascended by US$17 per tonne or 0.64 per cent to peg at US$2,645 per tonne and US$2,650 per tonne. LME aluminium opening stock came in at 1066575 tonnes.

Live warrants and Cancelled warrants stood at 481700 tonnes and 584875 tonnes.  LME aluminium 3-month Asian Reference Price moved up by US$7.87 per tonne or 0.31 per cent to stand at US$2,495.23 per tonne.