LME aluminium benchmark price moves up by US$7/t; SHFE price opens the week with a growth of US$8/t

LME aluminium opened at US$2,530.5 per tonne in the previous trading day, with its high and low at US$2,572 per tonne and US$2,526 per tonne, respectively, before closing at US$2,551 per tonne, up US 12.5 per tonne or 0.49 per cent.

On Friday, May 3, both LME aluminium cash bid price and LME aluminium official settlement price added US$7 per tonne or 0.27 per cent to clock at US$2,516 per tonne and US$2,517 per tonne. On the same day, both 3-month bid price and 3-month offer price hiked by US$7.5 per tonne or 0.29 per cent and US$8 per tonne or 0.31 per cent to settle at US$ 2,545 per tonne and US$2,545.50 per tonne.

December 25 bid price and December 25 offer price moved up by US$5 per tonne or 0.18 per cent to halt at US$2,687 per tonne and US$2,692 per tonne.  LME aluminium opening stock came in at 487750 tonnes. Live warrants and Cancelled warrants stood at 220000 tonnes and 267750 tonnes.

LME aluminium 3-month Asian Reference Price slumped by US$57.33 per tonne or 2.21 per cent to rest at US$2,527.13 per tonne. 

SHFE aluminium price 

The Shanghai Futures Exchange (SHFE) aluminium benchmark price has increased by US$8 per tonne after the Labour Day Holiday, settling at US$2,851 per tonne. Last Tuesday, the most-traded SHFE 2406 aluminium contract opened at RMB 20,640 per tonne, with its lowest and highest at RMB 20,680 per tonne and RMB 20,945 per tonne before closing at RMB 20,575 per tonne, up RMB 40 per tonne or 0.19 per cent.