LME aluminium benchmark price closes 3% higher at US$2636/t; SHFE uptrends to US$2796/t

The three-month LME aluminium opened at US$2,618.50 per tonne on Wednesday, January 18, and closed at US$2,611.50 per tonne, a decrease of US$7 per tonne or 0.27 per cent.

On the same day, the LME aluminium cash bid price and the LME aluminium official settlement price surged by US$73 per tonne and US$73.50 per tonne, following a slump on the previous day to stand at U$2,635 per tonne and US$2,636 per tonne.

The 3-month bid price skyrocketed by US$74 per tonne to settle at US$2,660 per tonne, and the 3-month offer price ascended by US$75 per tonne to rest at US$2,662 per tonne. December 24 bid price and December 24 offer price stopped at US$2,780 per tonne and US$2,785 per tonne, recording an increase of US$57 per tonne from US$2,723 per tonne and US$2,728 per tonne.

LME aluminium opening stock further slipped 4,750 tonnes from 395,150 tonnes to 390,400.

Live Warrants and Cancelled Warrants declined too on Wednesday, January 18, to close at 187,075 tonnes and 203,325 tonnes.

The 3-month Asian Reference Price totalled US$2,623.32 per tonne, hiking by US$37.22 per tonne from the earlier day.

SHFE aluminium price 

On Thursday, January 19, the SHFE aluminium benchmark price continued its uptrend by gaining US$33 per tonne or 1.19 per cent to stand at US$2,796 per tonne.

The most-traded SHFE 2303 aluminium contract opened at RMB 18,810 per tonne overnight before closing at RMB 19,045 per tonne, up RMB 235 per tonne or 1.25 per cent.