LME aluminium price further grows by US$7/t to US$2919.50/t; SHFE settles higher at US$3307/t

LME aluminium opened at US$2,930 per tonne last Friday and closed at US$2,922.50 per tonne, down by US$7.50 per tonne or 0.26 per cent.

On Friday, January 7, LME aluminium cash (bid) price and LME aluminium official settlement price grew by US$7 per tonne to settle at US$2,919 per tonne and US$2,919.50 per tonne. 3-month bid price and 3-month offer price closed at US$2,930 per tonne and US$2,9232 per tonne, up by US$7.50 per tonne and US$8.50 per tonne, respectively, from the previous day. December 22 bid price and December 22 offer price totalled at US$2,682 per tonne and US$2,687 per tonne. 

LME aluminium opening stock was recorded at 916875 tonnes. Live warrants increased to 536175 tonnes and Cancelled Warrants hiked to 380700 tonnes.

LME aluminium 3-month Asian Reference Price remained settled at US$2,948.73 per tonne.

SHFE Aluminium Price Trend

On Monday, January 10, the benchmark aluminium price for SHFE rose by US$29 per tonne to stand at US$3,307 per tonne.

The most-traded SHFE 2202 aluminium closed up 2.32 per cent or RMB 480 per tonne to come in at RMB 21,130 per tonne, with open interest down 8856 lots to 204163 lots.

During last Friday’s night session, the most-traded SHFE 2202 aluminium contract opened at RMB 21,100 per tonne, with the highest and lowest prices at RMB 21,105 per tonne and RMB 20,950 per tonne before closing at RMB 20,995 per tonne, down RMB 5 per tonne or 0.02 per cent.