LME aluminium price ascends by US$45/t to US$2,836/t; SHFE price inches up by US$1/t

LME aluminium opened at US$2,839 per tonne on Tuesday and closed at US$2,882 per tonne, an increase of US$47 per tonne or 1.66 per cent.

On May 17, LME aluminium cash bid price and LME aluminium official settlement price both moved upwards by US$45 per tonne or 1.61 percent to settle at US$2,835 per tonne and US$2,836 per tonne.

3-month bid price and 3-month offer price also hiked by US$36 per tonne or 1.27 percent to stop at US$2,856 per tonne and US$2,858 per tonne.

December 23 bid price and December 23 offer price escalated by US$33 per tonne or 1.18 percent to record at US$2,808 per tonne and US$2,813 per tonne.

LME aluminium opening stock pegged at 527375 tonnes. Live warrants and Cancelled warrants for the same day closed at 230075 tonnes and 297300 tonnes.

LME aluminium3-month Asian Reference Price dropped by US$2 per tonne to halt at US$2835.50 per tonne.

SHFE aluminium price

The benchmark aluminium price for SHFE on May 18 inched up by US$1 per tonne to settle at US$3,020 per tonne.

The most-traded SHFE 2206 aluminium closed down 1.22 per cent or RMB 250 per tonne to RMB 20,300 per tonne, with open interest down 7,539 lots to 155,794 lots.

The most-traded SHFE 2206 aluminium contract opened at RMB 20,480 per tonne overnight and rose to RMB 20,530 per tonne before closing at RMB 20,405 per tonne, down RMB 40 per tonne or 0.2 percent.