LME aluminium benchmark price surges by US$54.5/t to US$2,234.5/t; SHFE price expands to US$2,698/t

LME aluminium opened at US$2246 per tonne last Friday, with its low and high at US$2246 per tonne and US$2332 per tonne, respectively, before closing at US$2324 per tonne, up 3.5 per cent.

On Friday, December 22, both LME aluminium cash bid price and LME aluminium official settlement price surged by US$55 per tonne or 2.52 per cent and US$54.5 per tonne or 2.5 per cent to settle at US$2,234 per tonne and US$2,234.50 per tonne.

As per the London Metal Exchange (LME) data, both 3-month bid price and 3-month offer price hiked by US$47 per tonne or 2.10 per cent to score at US$2,279 per tonne and US$2,280 per tonne. On the same day, December 24 bid price and December 24 offer price gained US$47 per tonne to stop at US$2,395 per tonne and US$2,400 per tonne.

LME aluminium opening stock came in at 508650 tonnes. Live warrants and Cancelled warrants resided at 315825 tonnes and 192825 tonnes. LME aluminium 3-month Asian Reference Price ascended by US$15.33 per tonne or 0.68 per cent to settle at US$2,262.78 per tonne.

SHFE aluminium price

On Monday, December 25, the Shanghai Futures Exchange (SHFE) aluminium price expanded by US$25 per tonne or 0.93 per cent to come in at US$2,698 per tonne. Last Friday’s night session, the most-traded SHFE 2401 aluminium contract opened at RMB 19215 per tonne, with the highest and lowest prices at RMB 19395 per tonne and RMB 19190 per tonne before closing at RMB 19375 per tonne, up RMB 265 per tonne or 1.39 per cent.