Three-month LME aluminium edged 2.23 per cent higher on Monday, March 15, to close at US$ 2220 per tonne but fell the next day, March 16, by 1.1 per cent to come in at US$ 2195 per tonne, with open interest rising to 744,000 lots. On Wednesday, the price again rose to 1.66 per cent to US$ 2232 per tonne; however, declined on Thursday to US$ 2115 per tonne.
LME aluminium cash (bid) price and LME official settlement price increased this week during March 15-19 but range-bound. Starting the week on Monday, March 15, at US$ 2184.50 per tonne, the prices on March 16 declined US$ 10 per tonne to stand at US$ 2174.50 per tonne. However, on March 17, both LME aluminium cash (bid) price and LME official settlement price rebounded to US$ 2,202.50 per tonne, reflecting a hike of US$ 28 per tonne. On Thursday and Friday, the prices decreased again to US$ 2192 per tonne and to US$ 2188 per tonne, respectively.
On Monday, March 15, 3-months bid price and 3-months offer price stood at US$ 2210.50 per tonne, climbing by US$ 44.50 per tonne from US$ 2166 per tonne on March 12. On Tuesday, March 16, the prices declined to US$ 2201 per tonne but again surged to US$ 2232.50 per tonne on Wednesday, March 17. On Thursday, March 18, both 3-months bid price and 3-months offer price dipped to US$ 2226.50 and further to US$ 2223 on Friday, March 19.
Dec-22 bid price and Dec-22 offer price grew from US$ 2247.50 per tonne to US$ 2255 per tonne this week.
The LME aluminium opening stock, on the other hand, increased from 1916725 tonnes on Monday to 1967275 on Friday, March 19.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE decreased this week from US$ 2707 per tonne to US$ 2667 per tonne, but recorded a few intermittent rises. On Tuesday, March 16, the price jumped by US$ 39 per tonne to stand at US$$ 2746 per tonne, while on Thursday, March 18, increased to US$ 2738 per tonne after being declined from US$ 2746 per tonne to 2710 per tonne on Wednesday, March 17. However, on Friday, the price nosedived by US$ 71 per tonne to close the week at US$ 2667 per tonne.
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