LME aluminium price opens the week with a growth of US$32/t to US$2,963/t; SHFE price drops by US$9/t

LME aluminium opened at US$2,975 per tonne on Monday and closed at US$2,955 per tonne, down US$14.5 per tonne or 0.49 percent. 

On Monday, May 23, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$32 per tonne or 1.09 per cent to settle at US$2,962 per tonne and US$2,963 per tonne, respectively.

3-month bid price and 3-month offer price also soared up by US$40 per tonne or 1.36 per cent to score at US$2,973 per tonne and US$2,975 per tonne. December 23 bid price and December 23 offer price increased by US$10 per tonne or 0.35 per cent to record at US$2,855 per tonne and US$2,860 per tonne.

LME aluminium opening stock came in at 497250 tonnes. Live warrants and Cancelled warrants for the same day scored at 194175 tonnes and 303075 tonnes.

LME aluminium 3-month Asian Reference Price ascended by US$33.82 per tonne or 1.14 per cent to settle at US$2,985.81 per tonne.

SHFE aluminium price

The benchmark aluminium price for SHFE on Tuesday, May 24, has dropped by US$9 per tonne or 0.28 per cent after witnessing a surge for three consecutive days. The price for today has settled at US$3,120 per tonne.

The most-traded SHFE 2206 aluminium closed up 0.65 per cent or RMB 135 per tonne to RMB 20,870 per tonne, with open interest down 8,749 lots to 113,704 lots.

Overnight, the most-traded SHFE 2206 aluminium contract opened at RMB 20,870 per tonne, with its lowest and highest at RMB 20,505 per tonne and RMB 20,920 per tonne before closing at RMB 20,660 per tonne, down RMB 220 per tonne or 1.05 per cent.