
Three-month LME aluminium settled 0.79 per cent higher at US$ 2,230 per tonne on Thursday, with open interest decreasing 7,546 lots to 712,000 lots. It is expected to move between US$ 2,220-2,250 per tonne today.

As of Thursday, April 1, both LME aluminium cash (bid) price and LME official settlement price remained restrained at US$ 2212.50 per tonne. But 3-months bid price and 3-months offer price grew by US$ 1 per tonne to stand at US$ 2236 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2266 per tonne, down by US$ 10 per tonne from US$ 2256 per tonne on March 31.
The LME aluminium opening stock continued to decrease from 1897075 tonnes on Wednesday to 1889400 on Thursday. Live Warrants totalled 1333350 tonnes, while Cancelled Warrants stood at 556050 tonnes.
LME aluminium 3-months Asian Reference Price came in at US$ 2219.20 per tonne as of April 1.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE surged US$ 41 per tonne to close the week on Friday, April 2, at US$ 2667 per tonne.
The most-active SHFE 2105 aluminium contract gained 0.49 per cent to close at RMB 17,485 per tonne in overnight trading, with open interest losing 713 lots to 204,000 lots. It is likely to trade between RMB 17,300-17,600 per tonne today.
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