LME aluminium price moves up for the third day in a week to US$2606/t; SHFE is closed for CNY
The LME aluminium benchmark price continued to grow for the third consecutive day this week, and that too at a higher rate than the two previous days. On Wednesday, January 25, both the LME aluminium cash bid price and the LME aluminium official settlement price grew by US$11.50 per tonne or 0.44 per cent to stand at US$2,605.50 per tonne and US$2,606 per tonne, respectively.
The 3-month bid price and the 3-month offer price also recorded an increase of US$11.50 per tonne to rest at US$2,637.50 per tonne and US$2,638.50 per tonne. December 24 bid price and December 24 offer price gained US$10 per tonne to close at US$2,773 per tonne and US$2,778 per tonne.
LME aluminium opening stock remained restrained at 381,550 tonnes on January 25, following a spike of 5,600 tonnes on the previous day.
Live warrants and Cancelled warrants remained muted too at 194,650 tonnes and 186,900 tonnes, respectively.
The 3-month Asian Reference Price closed at US$2,655.50 per tonne, up by 0.50 per cent from US$2,642.50 per tonne.
SHFE aluminium price
The Shanghai Futures Exchange is closed for the Chinese New Year Holiday till January 27, 2023. The last data was recorded on Friday, January 20, when the SHFE price stood at US$2,801 per tonne, gaining US$5 per tonne from the former day.
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