LME aluminium price gains US$21.5/t to US$2,158/t; SHFE price moves up to US$2,646/t

LME aluminium opened at US$2,193 per tonne on Wednesday, with its high and low at US$2,219.5 per tonne and US$2,186 per tonne, respectively, before closing at US$2,193 per tonne.

On Wednesday, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$21.5 per tonne or 1 per cent to close at US$2,157.50 per tonne and US$2,158 per tonne.

As per the London Metal Exchange (LME) graph, 3-month bid price and 3-month offer price grew by US$17 per tonne or 0.77 per cent and US$17.5 per tonne or 0.79 per cent to clock at US$2,205 per tonne and US$2,206 per tonne.

December 24 bid price and December 24 offer price gained US$17 per tonne or 0.72 per cent to halt at US$2,350 per tonne and US$2,355 per tonne. LME aluminium opening stock closed at 502400 tonnes. Live warrants and Cancelled warrants settled at 226600 tonnes and 275800 tonnes.

LME aluminium 3-month Asian Reference Price inched down by US$0.74 per tonne to reside at US$2,196.30 per tonne.

SHFE aluminium price

Today, on September 7, the Shanghai Futures Exchange (SHFE) aluminium benchmark price has moved up by US$6 per tonne to halt at US$2,646 per tonne. Overnight, the most-traded SHFE 2310 aluminium contract opened at RMB 19,180 per tonne, with the lowest and highest prices at RMB 19,090 per tonne and RMB 19,185 per tonne before closing at RMB 19,110 per tonne, down RMB 10 per tonne or 0.05 per cent from the previous trading day.