LME aluminium price closed US$24/t higher at US$2278/t; SHFE price soared by US$75/t to US$2736/t
Three-month LME aluminium settled 1.65 per cent higher at US$ 2304.50 per tonne on Tuesday, April 13, and is likely to range between US$ 2270-2320 per tonne today.
LME aluminium cash (bid) price and LME official settle price surged by US$ 24 per tonne to close at US$ 2278 per tonne on Tuesday, April 13, marking the second consecutive day of hike. 3-months bid price and 3-months offer price stood at US$ 2293 per tonne, up by US$ 25.50 per tonne from US$ 2267.50 per tonne on April 12. Dec 22 bid price and Dec 22 offer price also grew by US$ 18 per tonne to come in at US$ 2326 per tonne as of April 13.
The LME aluminium opening stock continued to fall from 1847600 tonnes to 1841575 tonnes. Live Warrants totalled 1336850 tonnes, while Cancelled Warrants stood at 504725 tonnes.
LME aluminium 3-months Asian Reference Price increased from US$ 2254.71 per tonne to US$ 2284.02 per tonne on April 13.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE jumped US$ 75 per tonne to settle at US$ 2736 per tonne on Wednesday, April 14, 2021.
The most-active SHFE 2105 aluminium contract rose 1.48 per cent to close at a session high of RMB 17,835 per tonne in overnight trading, with open interest adding 2,852 lots to 194,531 lots. The price is likely to move between RMB 17,500-17,800 per tonne today.
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