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02 OCTOBER 2023 AL CIRCLE

LME aluminium benchmark price gains 3.4% to stand above US$2300/t; SHFE is closed for Mid-Autumn Festival

EDITED BY : DEBANJALI SENGUPTA 1MINS READ

The LME aluminium benchmark price closed the week on Friday, September 29, with a leap of US$75.50 per tonne or 3.4 per cent. As per the data, the LME aluminium cash bid price and LME aluminium official settlement price stood at US$2,307 per tonne and US$2,307.50 per tonne, respectively.

LME aluminium benchmark price gains 3.4% to stand above US$2300/t; SHFE is closed for Mid-Autumn Festival

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The 3-month bid price and 3-month offer price stood at US$2,340 per tonne and US$2,342 per tonne, registering a sharp rise of US$77 per tonne. December 24 bid price and December 24 offer price massively gained US$74 per tonne to settle at US$2,472 per tonne and US$2,477 per tonne, respectively.

LME aluminium opening stock decreased on Friday by 4,225 tonnes to stand at 486,050 tonnes. Live Warrants shrank sharply by 50,225 tonnes from the previous day to rest at 173,875 tonnes, but Cancelled Warrants jumped up by 46,000 tonnes to peg at 312,175 tonnes.

On the same day, LME aluminium 3-month Asian Reference Price contracted by US$68.41 per tonne to stand at US$2,307.42 per tonne.

SHFE aluminium price:

The Shanghai Futures Exchange (SHFE) is closed since September 29 due to the Mid-Autumn Festival and National Day holiday. Lastly, on September 28, the SHFE aluminium benchmark price was recorded at US$2,702 per tonne.

Tagged with:

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EDITED BY : DEBANJALI SENGUPTA 1MINS READ

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