LME aluminium benchmark price opens the week with a growth of US$24/t; SHFE price loses US$12/t

LME aluminium opened at US$2,621 per tonne in the previous trading day, with its low and high at US$2,605 per tonne and US$2,648 per tonne, respectively, before closing at US$2,626.5 per tonne, up US$5.5 per tonne or 0.21 per cent.

On Monday, May 20, both LME aluminium cash bid price and LME aluminium official settlement price gained US$24 per tonne or 0.94 per cent to clock at US$2,567.50 per tonne and US$2,568 per tonne.

As per the LME price graph, both 3-month bid price and 3-month offer price expanded by US$24.5 per tonne or 0.94 per cent to peg at US$2,622 per tonne and US$2,622.50 per tonne. December 25 bid price and December 25 offer price grew by US$11 per tonne or 0.40 per cent to reside at US$2,738 per tonne and US$2,743 per tonne. 

LME aluminium opening stock came in at 1092800 tonnes. Live warrants and Cancelled warrants arrived at 638100 tonnes and 454700 tonnes. LME aluminium 3-month Asian Reference Price hiked by US$16.45 per tonne or 0.62 per cent to reach US$2,631.48 per tonne. 

SHFE aluminium price        

Today, on May 21, the Shanghai Futures Exchange (SHFE) aluminium benchmark price has contracted by US$12 per tonne or 0.41 per cent to reside at US$2,887 per tonne. The most-traded SHFE 2407 aluminium contract opened at RMB 20,890 per tonne overnight, with its high and low at RMB 21,075 per tonne and RMB 20,855 per tonne before closing at RMB 21,040 per tonne, up RMB 95 per tonne or 0.45 per cent.