LME aluminium price moving upwards at US$3102.50/t; SHFE falls for the sixth day in a row to US$3168/t

LME aluminium opened at US$3,087per tonne on Tuesday and closed at US$3,080 per tonne, down US$2 per tonne or 0.06 per cent.

On 26^th April, the LME aluminium cash bid price stood at US$3,102 per tonne, increasing by 0.42 per cent or US$13 per tonne. LME aluminium official settlement price halted at US$3,102.50 per tonne, rising by 0.40 per cent or US$12.50 per tonne.

3-month bid price stopped at US$3,117 per tonne, taking a leap of 0.45 per cent or US$14 per tonne. The 3-month offer price came in at US$3,118 per tonne, gaining US$13 per tonne or 0.42 per cent.

On the same day, December 23 bid price and December 23 offer price settled at US$2,990 per tonne and US$2,995 per tonne, respectively, both with a 0.84 per cent or US$25 per tonne hike.

LME aluminium opening stock continued to decrease by 0.76 per cent or 4,450 tonnes from 584,050 tonnes to 579,600 tonnes as of 26th April. Live warrants totalled 372,750 tonnes showing no change. Cancelled warrants read 206,850 tonnes after 4,450 tonnes or 2.11 per cent cut.

The LME aluminium 3-month Asian Reference Price decreased by 1.55 per cent or US$48.91 per tonne to stop at US$3,114.39 per tonne.

SHFE aluminium price 

Today, on 27^th April, the benchmark aluminium price for SHFE has fallen by US$3 per tonne or 0.09 per cent to stand at US$3,168 per tonne if compared with data collected on Tuesday.

Overnight, the most-traded SHFE 2206 aluminium contract opened at RMB 20,545 per tonne, with the highest at RMB 20,795 per tonne before closing at RMB 20,730 per tonne, up RMB 70 per tonne or 0.34 per cent.

The most-traded SHFE 2206 aluminium closed down 2.59 per cent or RMB 550 per tonne to RMB 20,715 per tonne, with open interest up 1,177 lots to 211,159 lots.