Three-month LME aluminium rose 1.17 per cent to close at US$ 2,413.5 per tonne on Wednesday, May 26. It is expected that the contract will run upwards and trade between US$ 2,380-2,480 per tonne today.
LME aluminium cash (bid) price and LME official settlement price extended growth by US$ 18.50 per tonne or 0.80 per cent to settle at US$ 2,359.50 per tonne on Wednesday, May 26. 3-months bid price and 3-months offer price increased by US$ 20.50 per tonne to stand at US$ 2,393 per tonne. Dec 22 bid price and Dec 22 offer price came in at US$ 2,404 per tonne compared to US$ 2,384.50 per tonne on Tuesday, May 25.
The LME aluminium opening stock continued to decline from 1733775 tonnes on May 25 to 1728375 tonnes on May 26. Live Warrants totalled 1144175 tonnes, while Cancelled Warrants stood at 584200 tonnes.
LME aluminium 3-months Asian Reference Price rose from US$ 2,382.85 per tonne to US$ 2,376.43 per tonne on Wednesday, May 26.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE inched up by US$ 6 per tonne to stand at US$ 2,878 per tonne on Thursday, May 27.
The most-active SHFE 2107 aluminium contract shed 0.65 per cent to close the day at RMB 18,210 per tonne, with open interest losing 8,921 lots to 219,000 lots.
The most-liquid SHFE 2107 aluminium contract rose 0.41 per cent to settle at RMB 18,370 per tonne on Wednesday night.
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