LME aluminium price shot up by US$95/t to US$2,265.50/t; SHFE price mounts to US$2,589/t

LME aluminium opened at US$2,222 per tonne on Wednesday, with its high and low at US$2,343.5 per tonne and $2,217.5 per tonne, respectively, before closing at US$2,330 per tonne, an increase of US$115 per tonne or 5.19 per cent.

On Wednesday, October 26, both LME aluminium cash bid price and LME aluminium official settlement price soared up by US$95 per tonne or 4.37 per cent to settle at US$2,265 per tonne and US$2,265.50 per tonne.

3-month bid price and 3-month offer price surged by US$70 per tonne or 3.19 per cent to halt at US$2,260 per tonne and US$2,262 per tonne. December 23 bid price and December 23 offer price were hiked by US$60 per tonne or 2.64 per cent and 2.63 per cent to peg at US$2,332 per tonne and US$2,337 per tonne.

LME aluminium opening stock closed at 574075 tonnes. Live warrants and Cancelled warrants scored at 335850 tonnes and 238225 tonnes.

LME aluminium 3-month Asian Reference Price expanded by US$58.27 per tonne or 2.65 per cent to halt at US$2,253.01 per tonne.

SHFE aluminium price 

As of October 27, the SHFE benchmark aluminium price increased by US$30 per tonne or 1.17 per cent to clock at US$2,589 per tonne.

The most-traded SHFE 2211 aluminium closed up 0.89 per cent or RMB 165 per tonne to RMB 18,685 per tonne, with open interest down 4,243 lots to 111,726 lots.

The most-traded SHFE 2211 aluminium contract opened at RMB 18,695 per tonne overnight and rose to RMB 18,810 per tonne before closing at RMB 18,750 per tonne, up RMB 65 per tonne or 0.35 per cent.