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11 FEBRUARY 2022 AL CIRCLE

LME aluminium price surges by 65/t to score at US$3,313/t; SHFE price slips by 1.50%

EDITED BY : SARNALI CHAKRABORTY 2MINS READ

After a jump in stocks raised the chance that supplies are not as tight as anticipated, aluminium prices dipped from their highest levels in more than 13 years on Thursday.

LME aluminium price surges by 65/t to score at US$3,313/t; SHFE price slips by 1.50%

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On Thursday, February 10, LME aluminium cash (bid) price had increased by US$66 per tonne or by 2.03% to score at US$3,312per tonne. LME aluminium official settlement price had also soared up by US$65 per tonne or by 2% to peg at US$3,313 per tonne. 3-month bid price and 3-month offer price registered at US$3,286 per tonne and US$3,287 per tonne, for the same day. December 23 bid price and December 23 offer price settled at US$2,863 per tonne and US$2,868 per tonne.

LME aluminium opening stock totalled at 880975 tonnes. Live warrants and Cancelled warrant came in at 595150 tonnes and 285825 tonnes.

LME aluminium 3-month Asian Reference Price also closed at US$3,276.24 per tonne.

SHFE aluminium price

On Friday, February 11, the benchmark aluminium price for SHFE has gone down by 55 per tonne or by 1.50% to settle at US$3,609 per tonne.

According to the Shanghai Metals Market, the most-traded SHFE 2203 aluminium closed up 2.13% or RMB 485 per tonne to RMB 23290 per tonne, with open interest up 2385 lots to 210342 lots.

Invitation to participate in EXPO

The most-traded SHFE 2203 aluminium contract opened at RMB 23,300 per tonne overnight, with the highest and lowest prices at RMB 23,365 per tonne and RMB 22,985 per tonne before closing at RMB 23,135 per tonne, down RMB 105 per tonne or 0.45%, stated the Shanghai Metals Market.

Tagged with:

Price LME Inventory Market

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EDITED BY : SARNALI CHAKRABORTY 2MINS READ

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