LME aluminium opened at US$2,573 per tonne on Tuesday, with its low and high at US$2547 per tonne and US$2,593 per tonne, respectively, before closing at US$2,568.5 per tonne, up 0.69 per cent.
On Tuesday, May 7, both LME aluminium cash bid price and LME aluminium official settlement price moved up by US$3 per tonne or 0.11 per cent and US$2.5 per tonne or 0.09 per cent to settle at US$2,512 per tonne and US$2,512.50 per tonne.
The 3-month bid price and 3-month offer price ascended by US$5 per tonne, or 0.19 per cent, to US$2,557.50 per tonne and US$2,558.50 per tonne. As per the SMM data, the December 25 bid price and December 25 offer price added US$8 per tonne, or 0.29 per cent, to reach US$2,690 per tonne and US$2,695 per tonne.
LME aluminium opening stock halted at 486050 tonnes. Live warrants and Cancelled warrants settled at 220000 tonnes and 266050 tonnes. LME aluminium 3-month Asian Reference Price, on the other hand, dropped by US$17.88 per tonne or 0.69 per cent to peg at US$2,566.58 per tonne.
SHFE aluminium price
On Wednesday, May 8, the aluminium benchmark price for the Shanghai Futures Exchange (SHFE) slumped by US$38 per tonne or 1.32 per cent to dock at US$2,826 per tonne. Overnight, the most-traded SHFE 2406 aluminium contract opened at RMB 20,600 per tonne, with the highest and lowest prices at RMB 20,655 per tonne and RMB 20,535 per tonne before closing at RMB 20,585 per tonne, down RMB 50 per tonne or 0.24 per cent.
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