
Three-month LME aluminium jumped 2.27 per cent to settle at US$ 2203 per tonne on Wednesday, with open interest adding 2,677 lots to 700,000 lots. It is likely to fluctuate between US$ 2000-2200 per tonne today.

LME aluminium cash (bid) price and LME official settlement price increased by US$ 9 per tonne or 0.42 per cent on Wednesday, February 24, to stand at US$ 2145.50 per tonne, following a decline from US$ 17 per tonne to US$ 2136.50 per tonne on Tuesday, February 23. 3-months bid price and 3-months offer price came in at US$ 2157.50 per tonne, also up by US$ 9 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2210.50 per tonne compared with US$ 2202.50 per tonne on February 23.
The LME aluminium opening stock continued to decrease from 1343075 tonnes to 1337700 tonnes on Wednesday, February 24. Live Warrants totalled 1122500 tonnes, while Cancelled Warrants stood at 215200 tonnes.
LME aluminium 3-months Asian Reference Price, however, plunged from US$ 2169 per tonne on Tuesday to US$ 2148.50 per tonne on Wednesday.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE soared by US$ 104 per tonne on Thursday, February 25, to reach at US$ 2700 per tonne, following a slight decline of US$ 2 per tonne to US$ 2596 per tonne.
The most-liquid SHFE 2104 aluminium contract surged 3.03 per cent to close at RMB 17,145 per tonne in overnight trading, with open interest rising 13,006 lots to 221,000 lots. It is expected to move between RMB 17,000-17,300 per tonne today.
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