The LME aluminium benchmark price increased this week by US$15 per tonne but touched the five-month for an intermittent period. On Monday, May 9, LME aluminium cash bid price and LME aluminium official settlement price started the week with a decline to US$2,707 per tonne and US$2,708 per tonne and extended downfall the next day to US$2,676 per tonne and US$2,677 per tonne, the lowest in the past five months. On Wednesday, May 11, the prices grew by US$60 per tonne or 2.24 per cent to rest at US$2,736 per tonne and US$2,737 per tonne but again fell Thursday, May 12, by over 1.5 per cent to settle at US$2,686 per tonne and US$2,688 per tonne, respectively. However, on Friday, May 13, both LME aluminium cash bid price and LME aluminium official settlement price rebounded at US$2,721 per tonne and US$2,723 per tonne.
3-month bid price and the 3-month offer price also initiated the week with a plunge of 4.18 per cent to US$2,748 per tonne and US$2,750 per tonne, which further decreased the next day by 1.27 per cent to US$2,713 per tonne and US$2,715 per tonne. On Wednesday, May 11, the prices jumped by US$57 per tonne or 2.1 per cent to amount to US$2,770 per tonne and US$2,772 per tonne. On Thursday, May 12, 3-month bid price and 3-month offer price again fell by US$48 per tonne and US$49 per tonne to stand at US$2,722 per tonne and US$2,723 per tonne but gained back to US$2,748 per tonne and US$2,750 per tonne, respectively.
December 23 bid price and December 23 offer price opened the week at US$2,715 per tonne and US$2,720 per tonne and closed a little higher at US$2,723 per tonne and US$2,727 per tonne, respectively.
LME aluminium opening stock declined through the week during May 9-13 from 568,250 tonnes to 539,800 tonnes.
SHFE aluminium price
The benchmark aluminium price for SHFE plunged on Monday, May 9, by US$96 per tonne to stand at US$2,957 per tonne, which further declined the next day by US$17 per tonne to US$2,940 per tonne. However, on Wednesday, it jumped by US$40 per tonne to US$2,980 per tonne, and further expanded to US$3,010 per tonne on Thursday, May 12. On Friday, the SHFE aluminium price closed lower at US$2,968 per tonne.
Responses
