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07 MAY 2021 AL CIRCLE

LME aluminium price rose 1.25% to US$2476.50/t; SHFE price soared above US$3000/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium increased 2.55 per cent to close at US$ 2,510 per tonne on Thursday, May 6. It is expected to trade between US$ 2,450-2,520 per tonne today.

LME aluminium price rose 1.25% to US$2476.50/t

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LME aluminium cash (bid) price and LME official settlement price surged on Thursday, May 6, by US$ 30.50 per tonne or 1.25 per cent to settle at US$ 2,476.50 per tonne. 3-months bid price and 3-months offer price came in at US$ 2,476 per tonne, gaining US$ 36.50 per tonne from US$ 2,439.50 per tonne on May 5. Dec 22 bid price and Dec 22 offer price stood at US$ 2,454 per tonne on Thursday, increasing by US$ 26 per tonne from US$ 2,428 per tonne.

The LME aluminium opening stock continued to decline from 1810550 tonnes to 1802175 tonnes. Live Warrants rebounded to 1231600 tonnes, while Cancelled Warrants totalled 570575 tonnes.

LME aluminium 3-months Asian Reference Price grew from US$ 2,440.61 per tonne on May 5 to US$ 2,470.77 per tonne on May 6.

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SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE exceeded US$ 3,000 per tonne, soaring by US$ 82 per tonne from the previous day. As of Friday, May 7, the SHFE aluminium price closed the week at US$ 3,043 per tonne.

The most-liquid SHFE 2106 aluminium contract rose 0.9 per cent to settle at RMB 19,560 pr tonne on Thursday night, and is likely to trade between RMB 19,200-19,600 per tonne today.

Tagged with:

Price LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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