LME benchmark aluminium price gains US$45/t arriving at US$2214/t; SHFE records 1.1% boost

LME aluminium opened at US$2,186 per tonne on Thursday, with its high and low at US$2,209.5 per tonne and US$2,186.5 per tonne, respectively, before closing at US$2,217 per tonne, an increase of US$27 per tonne or 1.23 per cent.

On October 20, Thursday, LME aluminium cash bid price elevated by US$45.50 per tonne or 2.1 per cent to peg at US$2,213.50 per tonne, and the LME aluminium official settlement price also went up by US$45 per tonne or 2.07 per cent to rest at US$2,214 per tonne.  

3-month bid and the 3-month offer price spiked by 2.15 per cent or US$47 per tonne to stand at US$2,227 per tonne and US$2,228 per tonne, respectively. 

December 23 bid price and December 23 offer price witnessed an US$39 per tonne or 1.7 per cent upward strike, stopping at US$2,307 per tonne and US$2,312 per tonne.

LME aluminium opening stock escalated by 1.02 per cent or 5,725 tonnes, from 562,550 tonnes to 568,275 tonnes as of October 20.

Live warrants totalled 433,450 tonnes, plummeting 17.8 per cent or 94,225 tonnes. 

Cancelled warrants read 134,825 tonnes, with an enormous addition of 99,950 tonnes or 286.6 per cent. 

LME aluminium 3-month Asian Reference Price came in at US$2,204.69 per tonne after a US$13.32 per tonne or 0.61 per cent rise.

SHFE aluminium price 

Today, on October 21, the SHFE benchmark aluminium price has increased by US$28 per tonne or 1.1 per cent to rest at US$2,576 per tonne.

The most-traded SHFE 2211 aluminium contract opened at RMB 18,535 per tonne overnight, with its low and high at RMB 18,520 per tonne and RMB 18,735 per tonne before closing up RMB 295 per tonne or 1.65 per cent.

The most-traded SHFE 2211 aluminium closed up 0.96 per cent or RMB 175 per tonne to RMB 18,460 per tonne, with open interest down 7,522 lots to 128,753 lots.