LME aluminium benchmark price moves up by US$5.5/t to US$2,146/t; SHFE price loses US$4/t

LME aluminium opened at US$2,185 per tonne on Tuesday, with its high and low at US$2,208.5 per tonne and US$2,185 per tonne, respectively, before closing at US$2,200 per tonne, up US$18 per tonne or 0.82 per cent.

On Tuesday, February 27, both LME aluminium cash bid price and LME aluminium official settlement price moved up by US$5 per tonne or 0.23 per cent and US$5.5 per tonne or 0.25 per cent to close at US$2,145 per tonne and US$2,146 per tonne.

As per the LME data, 3-month bid price and 3-month offer price hiked by US$13 per tonne or 0.59 per cent to settle at US$2,198 per tonne and US$2,198.50 per tonne. December 25 bid price and December 25 offer price added US$11 per tonne or 0.45 per cent to clock at US$2,413 per tonne and US$2,418 per tonne.

LME aluminium opening stock came in at 582675 tonnes. Live warrants and Cancelled warrants closed at 383600 tonnes and 199075 tonnes. LME aluminium 3-month Asian Reference Price grew by US$7.91 per tonne or 0.36 per cent to reside at US$2,196.23 per tonne.

SHFE aluminium price

The SHFE aluminium benchmark price dropped by US$4 per tonne or 0.15 per cent to arrive at US$2,615 per tonne. Overnight, the most-traded SHFE 2404 aluminium contract opened at RMB 18,845 per tonne, with high and low at RMB 18,880 per tonne and RMB 18,800 per tonne before closing at RMB 18840 per tonne, up RMB 5 per tonne or 0.03 per cent.