LME benchmark aluminium price adds US$32/t; SHFE grows by 0.74% to reach US$2700/t mark

LME aluminium opened at US$2,300.50 per tonne in the previous trading day, with its high and low at US$2,340 per tonne and US$2,292 per tonne, respectively, before closing at US$2,335 per tonne, up US$32 per tonne or 1.39 per cent.

On March 28, the London Metal Exchange graph marked a noticeable rise in aluminium prices, with the LME cash bid price stopping at US$2,269.50 per tonne and the LME official benchmark price settling down at US$2,270 per tonne, increasing by US$32 per tonne or 1.43 per cent.

Also, the 3-month bid and 3-month offer prices increased by US$24 per tonne, or 1.05 per cent each, to close at US$2,310 per tonne and US$2,311 per tonne. The December 25 bid and offer prices gained US$28 per tonne, or 1.12 per cent, to close at US$2,520 per tonne and US$2,525 per tonne.

The opening stock has narrowed down by 2,050 tonnes, or 0.37 per cent, to 554,475 tonnes, while the Live and Cancelled Warrants are parked at 342,450 tonnes and 212,025 tonnes, the latter with a plunge of 2,050 tonnes, or 0.96 per cent.

The 3-month Asian Reference Price halted at US$2,303.65 per tonne, with an addition of US$9.67 per tonne, or 0.42 per cent.

SHFE aluminium price 

Today, on March 29, the SHFE aluminium price has clocked at US$2,707 per tonne, with an official spike of US$20 per tonne or 0.74 per cent.

Overnight, the most-traded SHFE 2405 aluminium contract opened at RMB 19,500 per tonne, with its lowest and highest at RMB 19,495 per tonne and RMB 19,605 per tonne before closing at RMB 19,580 per tonne, up RMB 105 per tonne or 0.54 per cent.