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AL CIRCLE

LME aluminium price soared this week by US$104/t to close at US$2919.50/t; SHFE price settled at US$3278/t

EDITED BY : 2MINS READ

The London Metal Exchange opened this week on Tuesday, January 4, with LME aluminium cash (bid) price and LME aluminium official settlement price surge by US$9.50 per tonne to US$2,815 per tonne and US$2,815.50 per tonne, respectively. On January 5, the same prices soared by US$50.50 per tonne or 1.8 per cent to close at US$2,865.50 per tonne and US$2,866 per tonne. Continuing the price hike as operations at many smelters are cut, LME aluminium cash (bid) price and LME aluminium official settlement reached US$2,912 per tonne and USS$2,912.50 per tonne, up by US$46.50 per tonne from the previous day. The prices grew further on Friday, January 7, to close the week at US$2,919 per tonne and US$2,919.50 per tonne.

LME aluminium price soared this week by US$104/t to close at US$2919.50/t; SHFE price settled at US$3278/t

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3-month bid price and 3-month offer price started the week on January 4 at US$ US$2,822 per tonne and US$2,823 per tonne, which expanded the next day to US$2,883 per tonne and US$2,885 per tonne. On Thursday, January 6, the prices settled even higher at US$2,922.50 per tonne and US$2,923.50 per tonne, and close the week on January 7 at US$2,930 per tonne and US$2,932 per tonne.

December 22 bid price and December 22 offer price opened the week at US$2,590 per tonne and US$2,595 per tonne and closed the week higher at US$2,682 per tonne and US$2,687 per tonne.

LME aluminium opening stock decreased from 934375 tonnes to 916875 tonnes throughout the week.

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SHFE Aluminium Price Trend

On Tuesday, January 4, the benchmark aluminium price for SHFE decreased by US$22 per tonne to stand at US$3,175 per tonne, following three consecutive days of hike from December 29 to 31. On January 5, the price increased by US$8 per tonne to close at US$3,183 per tonne. On Thursday, the SHFE price soared by US$57 per tonne to US$3,240 per tonne, and closed the week even higher at US$3,278 per tonne on Friday, January 7.

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EDITED BY : 2MINS READ

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