LME aluminium price climbs down by US$4/t to US$2,825.50/t; SHFE price surges by US$24/t

LME aluminium opened at US$2,875 per tonne on Thursday and closed at US$2,866 per tonne, down US$2 per tonne or 0.07 percent.

On Thursday, May 26, both LME aluminium cash bid price and LME aluminium official settlement price moved down for the third day to settle at US$2,825 per tonne and US$2,825.50 per tonne, after witnessing a drop of US$4 per tonne or 0.14 percent.

3-month bid price and 3-month offer price also went down by US$1.5 per tonne or 0.05 percent and US$1 per tonne or 0.03 percent to score at US$2,856 per tonne and US$2,857 per tonne. December 23 bid price and December 23 offer price declined by US$9 per tonne or 0.31 percent to total at US$2,813 per tonne and US$2,818 per tonne.

For the same day, LME aluminium opening stock halted at 475650 tonnes. Live warrants and Cancelled warrants settled at 192500 tonnes and 283150 tonnes.

LME aluminium 3-month Asian Reference Price slipped by US$25.87 per tonne or 0.90 percent to stop at US$2,847.80 per tonne.

SHFE aluminium price

On Friday, May 27, the benchmark aluminium price for SHFE hiked by US$24 per tonne or 0.78 percent to come in at US$3,085 per tonne.

The most-traded SHFE 2207 aluminium closed up 0.32 percent or RMB 65 per tonne to RMB 20,500 per tonne, with open interest up 3,958 lots to 171,634 lots.

Overnight, the most-traded SHFE 2207 aluminium contract opened at RMB 20,635 per tonne, with its lowest and highest at RMB 20,555 per tonne and RMB 20,750 per tonne before closing at RMB 20,685 per tonne, up RMB 160 per tonne or 0.78 percent.