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16 MAY 2022 AL CIRCLE

LME aluminium price gains US$35/t to close at US$2723/t; SHFE rebounds to exceed US$3000/t again

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium opened at US$2,785 per tonne last Friday and closed at US$2,828 per tonne, an increase of US$42 per tonne or 1.51 per cent.

LME aluminium price gains US$35/t to close at US$2723/t; SHFE rebounds to exceed US$3000/t again

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On Friday, May 13, LME aluminium cash bid price and LME aluminium official settlement price rose for an alternate day by US$35 per tonne to stand at US$2,721 per tonne and US$2,723 per tonne, respectively. That made the prices closed higher at the end of the week by US$15 per tonne compared to the prices of Monday, May 9.

3-month bid price and 3-month offer price grew by US$26 per tonne and US$27 per tonne, respectively, to come in at US$2,748 per tonne and US$2,750 per tonne on the same day. Dec-23 bid price and Dec-23 offer price settled at US$2,723 per tonne and US$2,728 per tonne, up by US$25 per tonne from Thursday, May 12.

LME aluminium opening stock drowned from 546350 tonnes to 539800 tonnes. Live warrants and Cancelled warrants totalled 260275 tonnes and 279525 tonnes.

LME aluminium 3-month Asian Reference Price closed the week at US$2,789.74 per tonne, seeing an increase of US$39.67 per tonne from the previous day.

Global Aluminium Industry Outlook 2022

SHFE aluminium price

As of today, May 16, the benchmark aluminium price for SHFE has rebounded by US$76 per tonne to exceed the US$3,000 per tonne level again. As per the data shown, the price is standing at US$3,044 per tonne.

The most-traded SHFE 2206 aluminium closed up 0.32 per cent or RMB 65 per tonne to RMB 20,305 per tonne, with open interest down 8,719 lots to 175,103 lots.

The most-traded SHFE 2206 aluminium contract opened at RMB 20,365 per tonne at last Friday’s night session and rose to RMB 20,750 per tonne before closing at RMB 20,685 per tonne, up RMB 565 per tonne or 2.81 per cent.

Tagged with:

Price LME Aluminium

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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