LME aluminium price edged 0.74% higher to US$2185/t; SHFE price gained US$40/t to stand at US$2686/t

Three-month LME aluminium rose 2.54 per cent to close at US$ 2184 per tonne on Friday, with open interest falling to 707,000 lots. It is expected to trade between US$ 2150-2250 per tonne today.

LME aluminium cash (bid) price and LME official settlement price gained US$ 16 per tonne or 0.74 per cent on Friday, March 5, to stand at US$ 2185 per tonne, following an intermittent decrease of US$ 34 per tonne on March 4. But 3-months bid price and 3-months offer price dipped to US$ 2176 per tonne from US$ 2177.50 per tonne on March 4. Dec 22 bid price and Dec 22 offer price also stood down at US$ 2214.50 per tonne from US$ 2227.50 per tonne on Thursday.

The LME aluminium opening stock decreased from 1299775 tonnes on Thursday, March 4, to 1299150 tonnes on Friday, March 5. Live Warrants totalled 1080075 tonnes, while Cancelled Warrants stood at 219075 tonnes.

LME aluminium 3-months Asian Reference Price inched down from US$ 2171.21 per tonne on March 4 to US$ 2160.73 on March 5.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE opened the week on Monday, March 8, climbing by US$ 40 per tonne to reach at US$ 2686 per tonne.

The most-liquid SHFE 2014 aluminium contract rose 0.23 per cent to settle at RMB 17,285 per tonne on Friday night, and is likely to fluctuate between RMB 17,200-17,500 per tonne today.