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23 FEBRUARY 2022 AL CIRCLE

LME aluminium price escalates by US$105/t to peg at US$3,420/t; SHFE price slips by US$16/t

EDITED BY : SARNALI CHAKRABORTY 2MINS READ

Three-month LME aluminium opened at US$3,285 per tonne on Tuesday morning, and gained US$13 per tonne or 0.4% to close at US$3,303 per tonne.

LME aluminium price escalates by US$105/t to peg at US$3,420/t; SHFE price slips by US$16/t

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On Tuesday, February 22, LME aluminium cash bid price had escalated by US$106 per tonne or by 3.19% to settle at US$3,419 per tonne. LME aluminium official settlement price also soared up by US$105 per tonne or by 3.16% to total at US$3,420 per tonne. Aluminium prices have been increasing steadily due to three main reasons. First is that energy costs have been rising, the second is that there is a bit of a shortfall due to decreasing Chinese output, and the third is that there has been some worry due to the developing tensions between Russia and Ukraine.

3-month bid price and 3-month offer price registered at US$3, 366 per tonne and US$3,366.50 per tonne. December 23 bid price and December 23 offer price came in at US$2,983 per tonne and US$2,988 per tonne.  LME aluminium opening stock pegged at 835125 tonnes. Live warrants and Cancelled warrants for the same day also closed at 562575 tonnes and 272550 tonnes.

LME aluminium 3-month Asian Reference Price scored at US$3,319.19 per tonne.

SHFE aluminium price

On Wednesday, February 23, the aluminium benchmark price for SHFE slumped by US$16 per tonne or 0.44% to record at US$3,611 per tonne.

The most-traded SHFE 2203 aluminium closed up 1.46% or RMB 330 per tonne to RMB 22930 per tonne, with open interest down 19720 lots to 118929 lots.

Global Aluminium Industry Outlook 2022

The most traded SHFE 2204 aluminium contract opened at RMB 23,000 per tonne last night, hitting the lowest and highest points at RMB 22,805 per tonne and RMB 23,070 per tonne respectively, and closed RMB 55 per tonne or 0.24% lower at RMB 22,820 per tonne.

Tagged with:

Price LME China Energy Market

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EDITED BY : SARNALI CHAKRABORTY 2MINS READ

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