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04 MARCH 2022 AL CIRCLE

LME aluminium hits all-time high at US$3728.50/t amidst supply woes; SHFE price descends by US$6/t

EDITED BY : SARNALI CHAKRABORTY 2MINS READ

LME aluminium opened at US$3,575.5 per tonne on Thursday and closed at US$3,766.5 per tonne, an increase of US$190.5 per tonne or 5.33%.

LME aluminium hits all-time high at US$3728.50/t amidst supply woes; SHFE price descends by US$6/t

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On Thursday, March 3, LME aluminium prices recorded their greatest weekly rise, as supply disruption worries intensified among new sanctions against Russia. Both LME aluminium cash bid price and LME aluminium official settlement price skyrocketed by US$123.5 per tonne or 3.42% to score at US$3,728 per tonne and US$3,728.50 per tonne. 3-month bid price and 3-month offer price settled at US$3,703.50 per tonne and US$3,704 per tonne. December 23 bid price and December 23 offer price also soared up to peg at US$3,323 per tonne and US$3,328 per tonne.

LME aluminium opening stock plunged further to register at 801100 tonnes. Live warrants and Cancelled warrants for the same day also decreased greatly to total at 504150 tonnes and 296950 tonnes.

LME aluminium 3-month Asian Reference Price also jumped higher by US$166.26 per tonne to come in at US$3,657.76 per tonne.

SHFE aluminium price

On Friday, March 4, the benchmark aluminium price for SHFE moved down by US$6 per tonne or 0.16% to total at US$3,734 per tonne.

The most-traded SHFE 2204 aluminium closed up 3.71% or RMB 850 per tonne to RMB 23,775 per tonne, with open interest up 14,534 lots to 245,470 lots.

Aluminium LeaderSpeak 2022

The most-traded SHFE 2204 aluminium contract opened at RMB 23,810 per tonne overnight, with the lowest and highest prices at RMB 23,525 per tonne and RMB 23,870 per tonne before closing at RMB 23,655 per tonne, up RMB 145 per tonne or 0.6%.

Tagged with:

Aluminium Price LME

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EDITED BY : SARNALI CHAKRABORTY 2MINS READ

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