LME aluminium benchmark price grows by US$9/t; SHFE aluminium price discards US$20/t

LME aluminium opened at US$2,596 per tonne in the previous trading day, with its low and high at US$2,563 per tonne and US$2,627 per tonne respectively before closing at US$2,588 per tonne, down 0.46 per cent.

As per the London Metal Exchange market, on Thursday, May 16, the LME aluminium cash bid price and LME aluminium official settlement increased by US$8.50 per tonne or 0.34 per cent and US$9 per tonne or 0.35 per cent to halt at US$2,537.50 per tonne and US$2,538.50 per tonne.

On the same day, the 3-month bid price and 3-month offer price spiked by US$19 per tonne or 0.74 per cent and US$17.50 per tonne or 0.68 per cent to arrive at US$2,594 per tonne and US$2,594.50 per tonne.

The December 25 bid price and December 25 offer price expanded by US$8 per tonne or 0.29 per cent to rest at US$2,723 per tonne and US$2,728 per tonne.

LME aluminium opening stock came in at 10,93,275 tonnes. Live warrants and Cancelled warrants stood at 701,100 tonnes and 392,175 tonnes. LME aluminium 3-month Asian Reference Price gained US$53.92 per tonne or 2.1 per cent to reside at US$2,618.58 per tonne.

SHFE aluminium price        

Today, on May 17, the Shanghai Futures Exchange (SHFE) aluminium benchmark price has dived by US$20 per tonne or 0.59 per cent to stand at US$2,878 per tonne.

Overnight, the most-traded SHFE 2407 aluminium contract opened at RMB 20,670 per tonne, with the highest and lowest prices at RMB 20,780 per tonne and RMB 20,650 per tonne before closing at RMB 20,780 per tonne, up RMB 45 per tonne or 0.22 per cent.