LME aluminium price ends the week higher at US$2676/t; SHFE price surges by US$71/t to exceed US$3000/t

LME aluminium cash (bid) price and LME official settlement price opened this week on Monday, November 8, at US$2,530 per tonne and US$2,530.50 per tonne, respectively, growing by US$40 per tonne or 1.61 per cent from the previous day. On Tuesday, November 9, they grew further to settle at US$2,581 per tonne and US$2,582 per tonne.

However, on the next day, the prices decreased by US$28 per tonne to settle at US$2,553 per tonne and US$2,554 per tonne, but again rose on Thursday, November 11, by US$92 per tonne and US$91.50 per tonne to close at US$2,645 per tonne and US$2,645.50 per tonne. On Friday, LME aluminium cash (bid) price and LME official settlement price closed the week at US$2,675 per tonne and US$2,676 per tonne.

3-month bid price and 3-month offer price started the week at US$2,557 per tonne and US$2,558 per tonne and closed higher at US$2,677 per tonne and US$2,679 per tonne on November 12. December 22 bid price and December 22 offer price ranged from US$2,542 per tonne and US$2,547 per tonne to US$2,633 per tonne and US$2,638 per tonne.

LME aluminium opening stock declined through the week from 1000375 tonnes to 974700 tonnes.

SHFE Aluminium Price Trend

SHFE aluminium benchmark price exceeded US$3,000 per tonne this week, starting from US$2,971 per tonne on Monday, November 8. On Tuesday, November 9, the price inched up by US$10 per tonne to stand at US$2,981 per tonne but fell the next day to US$2,923 per tonne. On Thursday, November 11, SHFE price jumped by US$28 per tonne to stand at US$2,951 per tonne, and further expanded on Friday to end the week at US$3,042 per tonne.