LME aluminium price closed 1.29% higher at US$2205.50/t; SHFE price gained US$28/t to clock at US$2738/t

Three-month LME aluminium rose 1.66 per cent to close at US$ 2,232 per tonne on Wednesday. Carbon neutralization pushed refined aluminium to industry hotspots, and supply and demand improved on the fundamentals. It is expected that the contract will keep fluctuating at high and trade between US$ 2,210 per tonne and US$ 2,250 per tonne today. 

LME aluminium cash (bid) price and LME official settlement price gained US$ 31 per tonne or 1.29 per cent on Wednesday, March 17, to stand at US$ 2205.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 2232.50 per tonne, up by US$ 31.50 per tonne from US$ 2201 per tonne on March 16. Dec 22 bid price and Dec 22 offer price increased from US$ 2230 per tonne on March 16 to US$ 2254.50 per tonne on March 17.

The LME aluminium opening stock decreased from 1910650 tonnes on Tuesday to 1903625 tonnes on Wednesday. Live Warrants totalled 1549675 tonnes, while Cancelled Warrants stood at 353950 tonnes.

LME aluminium 3-months Asian Reference Price came in at US$ 2204.85 per tonne as of March 17.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE climbed US$ 28 per tonne to stand at US$ 2738 per tonne on Thursday, March 18, 2021.

The most-liquid SHFE 2105 aluminium contract rose 0.57 per cent to settle at RMB 17,720 per tonne on Wednesday night, and is likely to trade between RMB 17,600 per tonne and 17,900 per tonne today.