Industry News

LME aluminium price stands 1.35% down W-o-W despite US$27/t of overnight surge; SHFE trends down by US$19/t over a week

Views : 81
Update time : 2024-07-02 17:04:00
On Friday, June 28, LME aluminium cash bid price and LME aluminium official settlement price surged by US$27.50 per tonne and US$27 per tonne, respectively, marking the second consecutive day of rise. The LME graph shows the prices closed the week at US$2,485 per tonne and US$2,485.50 per tonne, which, however, indicated the benchmark price standing 1.35 per cent lower than US$2,452.50 per tonne.

On the same day, 3-month bid price and 3-month offer price increased by US$23.50 per tonne, closing the week at US$2,525 per tonne and US$2,526 per tonne, respectively. December-25 bid price and December-25 offer price stood at US$2,668 per tonne and US$2,673 per tonne, mirroring the same growth of US$15 per tonne as the previous day.

On June 28, LME aluminium opening stock totalled 1,026,925 tonnes, registering a further decline of 5,950 tonnes from the earlier day. Live Warrants stood restrained at 466,500 tonnes, while Cancelled Warrants plunged by 5,950 tonnes to 560,425 tonnes.

LME aluminium 3-month Asian Reference Price grew by 0.52 per cent on Friday to settle at US$2,513.50 per tonne.

Related News
Read More >>
Constellium and TARMAC unlocks major breakthrough in full-circular aluminium recycling for retired aircrafts Constellium and TARMAC unlocks major breakthrough in full-circular aluminium recycling for retired aircrafts
Jun .13.2025
Constellium and TARMAC unlocks major breakthrough in full-circular aluminium recycling for retired aircrafts
ITAC recommends maintaining 15% duty on aluminium rolled products to support the local industry ITAC recommends maintaining 15% duty on aluminium rolled products to support the local industry
Jun .13.2025
ITAC recommends maintaining 15% duty on aluminium rolled products to support the local industry
Century Aluminium to invest $10M for maintenance at its Sebree smelter in Kentucky Century Aluminium to invest $10M for maintenance at its Sebree smelter in Kentucky
Jun .13.2025
Century Aluminium to invest $10M for maintenance at its Sebree smelter in Kentucky
Imported bauxite prices dropped back slightly this week; Amidst market negotiations, bauxite prices are expected to fluctuate Imported bauxite prices dropped back slightly this week; Amidst market negotiations, bauxite prices are expected to fluctuate
Jun .13.2025
Imported bauxite prices dropped back slightly this week; Amidst market negotiations, bauxite prices are expected to fluctuate