LME aluminium benchmark price expands to US$2,677/t; SHFE price contracts by US$41/t
On the previous trading day, LME aluminium opened at US$2,705.5 per tonne, with a high of US$2,737 per tonne and a low of US$2,643 per tonne. It closed at US$2,655 per tonne, down US$50 per tonne, or 1.85 per cent.
On Friday, May 31, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$11 per tonne or 0.41 per cent and US$11.5 per tonne or 0.43 per cent to dock at US$2.676 per tonne and US$2,677 per tonne, respectively.
As per the London Metal Exchange (LME) data, both 3-month bid price and 3-month offer price went up by US$1.5 per tonne or 0.05 per cent and US$2 per tonne or 0.07 per cent to settle at US$2,711.50 per tonne and US$2,712.50 per tonne.
On the same day, both December 25 bid price and December 25 offer price added US$3 per tonne or 0.10 per cent to clock at US$2,820 per tonne and US$2,825 per tonne. LME aluminium opening stock came in at 1116650 tonnes.
Live warrants and Cancelled warrants stood at 593875 tonnes and 522775 tonnes. LME aluminium 3-month Asian Reference Price dwindled by US$53.59 per tonne or 1.94 per cent to rest at US$2,704.50 per tonne.
SHFE aluminium price
On Monday, June 3, the SHFE aluminium benchmark price contracted by US$41 per tonne from US$2,944 per tonne recorded last Friday. The price as of today closed at US$2,903 per tonne. Last Friday night, the most-traded SHFE 2407 aluminium contract opened at RMB 21,630 per tonne, with a high of RMB 21,670 per tonne, a low of RMB 21,080 per tonne, and closed at RMB 21,145 per tonne, down RMB 295 per tonne, a decrease of 1.38 per cent.
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