LME aluminium benchmark price ascends by US$158.5/t M-o-M; SHFE aluminium price gathers US$50/t today

AL Circle

On the previous trading day, LME aluminium opened at US$2,732 per tonne, reaching a high of US$2,798 per tonne and a low of US$2,724 per tonne, and closed at US$2,794 per tonne, up US$62 per tonne, an increase of 2.27 per cent.

LME aluminium benchmark price ascends by US$158.5/t M-o-M; SHFE aluminium price gathers US$50/t today

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The London Metal Exchange market has witnessed escalating prices this week, with the LME aluminium cash bid price and the LME aluminium offer price scoring US$42 per tonne or 1.58 per cent to officially close at US$2,694 per tonne and US$2,695 per tonne, respectively. On a Month-on-Month scale, there has been an augmentation of US$158.50 per tonne or 5.89 per cent from US$2,695 per tonne recorded on April 29.

The 3-month bid price and the 3-month offer price have risen by US$36.50 per tonne or 1.35 per cent and US$37 per tonne or 1.37 per cent to arrive at US$2,740 per tonne and US$2,741 per tonne.

The 25 December bid price and the 25 December offer price have both soared by US$32 per tonne or 1.14 per cent to settle at US$2,842 per tonne and US$2,847 per tonne.

The opening stock has negated 1450 tonnes or 0.13 per cent to park at 1120050 tonnes, while the live and cancelled warrants have rested at 653575 tonnes and 466475 tonnes, respectively.

The Asian Reference price has ascended by US$71.31 per tonne or 2.65 per cent to reach US$2,761.48 per tonne.

SHFE aluminium price

The SHFE aluminium price has levitated by US$50 per tonne or 1.7 per cent to close at US$2,989 per tonne, with a Month-on-Month spike of US$146 per tonne or 5.13 per cent from US$2,843 per tonne marked on April 30.

Overnight, the most-traded SHFE 2407 aluminium contract opened at RMB 21,350 per tonne, reaching a high of RMB 21,970 per tonne and a low of RMB 21,350 per tonne, and closed at RMB 21,895 per tonne, up RMB 590 per tonne, an increase of 2.77 per cent. 

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