
Three-month LME aluminium advanced 1.23 per cent to settle at US$ 2,019 per tonne last Friday, February 5, with open interest decreasing 3,086 lots to 725,000 lots.

LME aluminium cash (bid) price and LME official settlement price continued to grow to close the last week ending on Friday, January 5, at US$ 2007.50 per tonne. This recorded the third consecutive day of hike by US$ 28 per tonne from the previous day’s price of US$ 1979.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 2012 per tonne, also up by US$ 28 per tonne from US$ 1984 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2090 per tonne.
The LME aluminium opening stock decreased from 1415125 tonnes on February 4 to 1406525 tonnes on February 5. Live Warrants totalled 1173400 tonnes, while Cancelled Warrants stood at 233125 tonnes.
LME aluminium 3-months Asian Reference Price hovered around US$ 2002 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE again surged for the third day in a row, albeit lower than the previous day, by US$ 20 per tonne to open the week on Monday, February 8, at US$ 2427 per tonne.
The most-liquid SHFE 2103 aluminium contract gained 1.65 per cent to close at RMB 15,710 per tonne last Friday night. It is expected to move between RMB 15,300-15,800 per tonne today.
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