LME aluminium increases further on the last day of the year; SHFE ends higher at RMB14110/t

Benchmark aluminium price on London Metal Exchange increased 0.5 per cent to US$ 1800 per tonne on Tuesday, December 31, from US$ 1791 per tonne on Monday.

As on December 31, Tuesday, LME aluminium cash (bid) price stood at US$ 1799.50 per tonne, LME official settlement price stands at US$ 1800 per tonne; 3-months bid price stands at US$ 1829 per tonne, 3-months offer price is US$ 1830 per tonne; Dec 20 bid price stands at US$ 1885 per tonne, and Dec 20 offer price stands at US$ 1890 per tonne.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1822.50 per tonne.

SHFE Aluminium Price Trend

The most traded SHFE 2002 contract closed higher at RMB14,110 per tonne. Investors added short positions on the 2003, 2004 and 2005 contracts, leading to a backwardation structure on SHFE aluminium. The contract is expected to be traded at RMB 14,050-14,150 per tonne after returning from the holiday.

The SHFE is closed today for the New Year's Day holiday.