LME aluminium benchmark price expands to US$2,163/t; SHFE price hikes by US$19/t

LME aluminium opened at US$2,193.5 per tonne on Thursday, with its high and low at US$2,230.5 per tonne and US$2,186 per tonne, respectively, before closing at US$2,225 per tonne, up US$34 per tonne or 1.55 per cent.

On Thursday, February 29, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$33 per tonne or 1.54 per cent to stand at US$2,162.50 per tonne and US$2,163 per tonne.

3-month bid price and 3-month offer price grew by US$26.5 per tonne or 1.21 per cent and US$26 per tonne or 1.19 per cent to US$2,206.50 per tonne and US$2,207 per tonne. On the same day, December 25 bid price and December 25 offer price ascended by US$22 per tonne or 0.91 per cent to clock at US$2,420 per tonne and US$2,425 per tonne.

LME aluminium opening stock came in at 589650 tonnes. Live warrants and Cancelled warrants closed at 390075 tonnes and 199575 tonnes. LME aluminium 3-month Asian Reference Price expanded by US$15.05 per tonne or 0.68 per cent to reach US$2,201.91 per tonne.

SHFE aluminium price

The SHFE aluminium benchmark price grew by US$19 per tonne or 0.72 per cent to arrive at US$2,637 per tonne. Overnight, the most-traded SHFE 2404 aluminium contract opened at RMB 18,945 per tonne, with high and low at RMB 19,010 per tonne and RMB 18,930 per tonne before closing at RMB 18,980 per tonne, up RMB 55 per tonne or 0.29 per cent.