LME aluminium benchmark price inches up by US$1/t to US$2,184.5/t; SHFE price hikes by US$24/t

LME aluminium opened at US$2,206 per tonne on Tuesday, with its low and high at US$2,203 per tonne and US$2,242 per tonne, respectively, before closing at US$2,229 per tonne, up 1.11 per cent.

On Tuesday, February 6, both LME aluminium cash bid price and LME aluminium official settlement price inched up by US$1 per tonne or 0.04 per cent to settle at US$2,184 per tonne and US$2,184.50 per tonne.

3-month bid price and 3-month offer price moved up by US$1 per tonne or 0.04 per cent and US$1.5 per tonne or 0.06 per cent to halt at US$2,220 per tonne and US$2,221 per tonne. As per the London Metal Exchange (LME) price graph, December 25 bid price and December 25 offer price added US$5 per tonne or 0.20 per cent to clock at US$2,450 per tonne and US$2,455 per tonne.

On the same day, LME aluminium opening stock came in at 526750 tonnes. Live warrants and Cancelled warrants arrived at 318600 tonnes and 208150 tonnes. LME aluminium 3-month Asian Reference Price dropped by US$17.58 per tonne or 0.78 per cent to peg at US$2,213.44 per tonne.

SHFE aluminium price

The SHFE aluminium benchmark price has gained US$24 per tonne or 0.91 per cent to halt at US$2,644 per tonne. The most-traded SHFE 2403 aluminium contract opened at RMB 18,905 per tonne overnight, with its low and high at RMB 18,870 per tonne and RMB 19,020 per tonne before closing at RMB 18,970 per tonne, up 0.64 per cent.