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14 OCTOBER 2022 AL CIRCLE

LME aluminium price soars 6.6% to stand at US$2374/t; SHFE builds up by US$26/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

LME aluminium moved around the 5-day moving average after opening at US$2,330 per tonne on Thursday, and closed at US$2,337 per tonne, a decrease of 0.64 per cent.

LME aluminium price soars 6.6% to stand at US$2374/t; SHFE builds up by US$26/t

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On Thursday, October 13, LME aluminium cash bid price skyrocketed by US$147.50 per tonne or 6.63 per cent to stand at US$2,373.50 per tonne and LME aluminium official settlement price soared by US$147 per tonne or 6.60 per cent to rest at US$2,374 per tonne.

3-month bid price and 3-month offer price jumped by US$140.50 per tonne to stand at US$2,360 per tonne and US$2,360.50 per tonne. December 23 bid price and December 23 offer price surged by US$118 per tonne to hover around US$2,302 per tonne and US$2,307 per tonne, respectively.

LME aluminium opening stock totalled 351900 tonnes. Live warrants and Cancelled warrants closed at 303575 tonnes and 48325 tonnes.

LME aluminium 3-month Asian Reference Price gained US$60.50 per tonne to rest at US$2,291 per tonne.

Future of Aluminium in Transportation Sector

SHFE aluminium price 

On Friday, October 14, SHFE aluminium benchmark price grew by US$26 per tonne to settle at US$2,612 per tonne.

SHFE aluminium moved up after opening at RMB 18,410 per tonne overnight due to domestic production cuts and reports of US ban on Rusal aluminium, closing at RMB 18,580 per tonne, an increase of 1.23 per cent.

The most-traded SHFE 2211 aluminium closed down 0.14 per cent or RMB 25 per tonne to RMB 18,355 per tonne, with open interest down 1,996 lots to 142,114 lots.

Tagged with:

Price LME China

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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