LME aluminium price inches up by US$3.5/t to peg at US$2,923/t; SHFE price ascends by US$69/t

LME aluminium opened at US$2,920 per tonne on Monday and closed at $2,933 per tonne, an increase of US$10.5 per tonne or 0.36 percent.

On Monday, January 10, LME aluminium cash (bid) price inched up by US$3 per tonne or by 0.10% to settle at US$2,922 per tonne. On the other hand, LME aluminium official settlement price also increased by US$3.5 per tonne or by 0.11% to close at US$2,923 per tonne. 3-month bid price and 3-month offer price for the same was recorded at US$2,934 per tonne and US$2,934.50 per tonne. December 22 bid price and December 22 offer price was registered at US$2,693 per tonne and US$2,698 per tonne.

LME aluminium opening stock pegged at 911500 tonnes. Live warrants and Cancelled warrants stood at 536175 tonnes and 375325 tonnes.

LME aluminium 3-month Asian Reference Price was closed at US$2,948.37 per tonnes.

SHFE Aluminium Price Trend

On Tuesday, January 11, the benchmark aluminium price for SHFE ascended by US$69 per tonne to stand at US$3,376 per tonne.

The most-traded SHFE 2202 aluminium closed up 1.07% or RMB 225 per tonne to RMB 21225 per tonne, with open interest down 13217 lots to 190949 lots.

Overnight, the most-traded SHFE 2202 aluminium contract opened at RMB 21,210 per tonne, with the highest and lowest prices at RMB 21,300 per tonne and RMB 21,160 per tonne before closing at RMB 21,210 per tonne, up RMB 80 per tonne or 0.38%.