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08 FEBRUARY 2024 AL CIRCLE

LME aluminium benchmark price adds US$11/t amid inventory growth; SHFE price sheds off US$8/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

LME aluminium opened at US$2,230.50 per tonne on Wednesday, with its high and low at US$2,234 per tonne and $2,214.50 per tonne, respectively, before closing at US$2,221.50 per tonne, down 0.34 per cent.

LME aluminium benchmark price adds US$11/t amid inventory growth; SHFE price sheds off US$8/t

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On Wednesday, February 7, LME aluminium cash bid price and LME aluminium official settlement price increased by US$11 per tonne or 0.50 per cent to reach US$2,195 per tonne and US$2,195.50 per tonne, respectively.

3-month bid price and 3-month offer price built up by US$8 per tonne and US$9 per tonne to settle at US$2,228 per tonne and US$2,230 per tonne, while December 25 bid price and December 25 offer price added US$3 per tonne to stand at US$2,453 per tonne and US$2,458 per tonne.

On the same day, LME aluminium opening stock stood at 528,050 tonnes, up by 1,300 tonnes from 526,750 tonnes. Live warrants and Cancelled warrants amounted to 322,525 tonnes and 205,525 tonnes, respectively.

LME aluminium 3-month Asian Reference Price closed the day at US$2,226.50 per tonne, experiencing an increase of 0.59 per cent from US$2,213.44 per tonne.

SHFE price

The SHFE aluminium benchmark price has dropped on Thursday, February 8, by US$8 per tonne to peg at US$2,636 per tonne.

The most-traded SHFE 2403 aluminum contract opened at RMB 18,900 per tonne overnight, with its low and high at RMB 18,815 per tonne and RMB 18,910 per tonne before closing at RMB 18,845 per tonne, down 0.26 per cent.

Tagged with:

Price Inventory LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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