LME aluminium benchmark price moves up by US$10.5/t to US$2,224/t; SHFE price gains US$12/t

LME aluminium opened at US$2,261 per tonne on Wednesday, with its high and low at US$2,274.5 per tonne and US$2,254 per tonne, respectively, before closing at US$2,262.5 per tonne, down US$0.5 per tonne or 0.02 per cent.

On Wednesday, March 13, both LME aluminium cash bid price and LME aluminium official settlement price increased by US$10 per tonne or 0.45 per cent and US$10.5 per tonne or 0.47 per cent to settle at US$2,223 per tonne and US$2,224 per tonne.

As per the LME data, the 3-month bid price and 3-month offer price went up by US$7 per tonne or 0.30 per cent to settle at US$2,269 per tonne and US$2,270 per tonne. December 25 bid price and December 25 offer price gained US$12 per tonne or 0.48 per cent to reside at US$2,480 per tonne and US$2,485 per tonne.

LME aluminium opening stock was 572925 tonnes. Live warrants and Cancelled warrants stood at 354700 tonnes and 218225 tonnes, respectively. The LME aluminium 3-month Asian Reference Price went up by US$5.25 per tonne, or 0.23 per cent, to US$2,258 per tonne.

SHFE aluminium price

On Thursday, March 14, the SHFE aluminium benchmark price hiked by US$12 per tonne or 0.44 per cent to peg at US$2,679 per tonne. The most-traded SHFE 2404 aluminium contract opened at RMB 19,270 per tonne overnight, with its low and high at RMB 19,225 per tonne and RMB 19,290 per tonne before closing at RMB 19,255 per tonne, up RMB 20 per tonne or 0.10 per cent.