LME aluminium price moves up by US$6/t to US$2494/t; SHFE price dips by US$3/t

LME aluminium opened at US$2,570 per tonne in the previous trading day, with its low and high at US$2570 per tonne and US$2,577 per tonne respectively before closing at US$2,573 per tonne, up 0.19 per cent.

On Thursday, May 9, both LME aluminium cash bid price and LME aluminium official settlement price increased by US$5 per tonne or 0.20 per cent and US$6 per tonne or 0.24 per cent to settle at US$2,492 per tonne and US$2,494 per tonne.

3-month bid price and 3-month offer price grew by US$11.5 per tonne or 0.45 per cent and US$11 per tonne or 0.43 per cent to clock at US$2,540.50 per tonne and US$2,541 per tonne.

December 25 bid price and December 25 offer price moved up by US$2 per tonne or 0.07 per cent to arrive at US$2,670 per tonne and US$2,675 per tonne. LME aluminium opening stock came in at 479850 tonnes. Live warrants and Cancelled warrants stood at 220000 tonnes and 259850 tonnes.

As per the LME data, 3-month Asian Reference Price also moved up by US$5.43 per tonne or 0.21 per cent to peg at US$2,542.15 per tonne.

SHFE aluminium price 

On Friday, May 10, the benchmark aluminium price for the Shanghai Futures Exchange (SHFE) dipped by US$3 per tonne or 0.10 per cent to reach US$2,853 per tonne. Overnight, the most-traded SHFE 2406 aluminium contract opened at RMB 20,600 per tonne, with the highest and lowest prices at RMB 20,675 per tonne and RMB 20,560 per tonne before closing at RMB 20,655 per tonne, up RMB 55 per tonne or 0.27 per cent.