LME aluminium benchmark price expands by US$42/t to US$2,188.5/t; SHFE price drops to US$2,603/t

LME aluminium opened at US$2202 per tonne on Wednesday, with its low and high at US$2199.5 per tonne and US$2223 per tonne respectively before closing at US$2212 per tonne, up 0.27 per cent.

On Wednesday, October 25, both LME aluminium cash bid price and LME aluminium official settlement price expanded by US$42 per tonne or 1.95 per cent to score at US$2,188 per tonne and US$2,188.50 per tonne.

3-month bid price and 3-month offer price also gained US$36.5 per tonne or 1.68 per cent and US$37 per tonne or 1.70 per cent to settle at US$2,208 per tonne and US$2,209 per tonne. On the same day, the London Metal Exchange (LME) graph reflected a hike of US$33 per tonne or 1.43 per cent for both December 24 bid price and December 24 offer price to clock at US$2,325 per tonne and US$2,330 per tonne.

LME aluminium opening stock halted at 482450 tonnes. Live warrants and Cancelled warrants settled at 203325 tonnes and 279125 tonnes. 3-month Asian Reference Price grew by US$27.99 per tonne to reside at US$2,209.96 per tonne.

SHFE aluminium price

On Thursday, October 26, the aluminium benchmark price on the Shanghai Futures Exchange (SHFE) dropped by US$13 per tonne or 0.49 per cent to clock at US$2,603 per tonne. Overnight, the most-traded SHFE 2312 aluminium contract opened at RMB 19055 per tonne, with its low and high at RMB 18980 per tonne and RMB 19065 per tonne before closing at RMB 19010 per tonne, down RMB 35 per tonne or 0.18 per cent.