LME aluminium benchmark price settles down by US$7/t; SHFE price moves up to US$2,801/t

On Tuesday, July 2, both LME aluminium cash bid price and LME aluminium official settlement price dipped by US$7 per tonne or 0.28 per cent to settle at US$2,489 per tonne and US$2,489.50 per tonne. The prices settled flat yesterday owing to signs of ample supply and muted demand.

As per the LME data, both 3-month bid price and 3-month offer price also went down by US$2 per tonne or 0.07 per cent and US$1.5 per tonne or 0.05 per cent to clock at US$2,530 per tonne and US$2,531 per tonne. December 25 bid price and December 25 offer price climbed down by US$2 per tonne or 0.07 per cent to reside at US$2,668 per tonne and US$2,673 per tonne.

LME aluminium opening stock came in at 1014925 tonnes. Live warrants and Cancelled warrants stood at 466400 tonnes and 548525 tonnes. LME aluminium 3-month Asian Reference Price also dropped by US$7.98 per tonne or 0.31 per cent to peg at US$2,522.70 per tonne.