LME aluminium opened at US$2,272.50 per tonne yesterday, with its high and low at US$2,294 per tonne and US$2,261 per tonne respectively before closing at US$2,276.5 per tonne, down US$0.50 per tonne or 0.02 per cent.
The LME aluminium official price chart on March 18 flashed a slight increase in rates, with the LME official cash bid price stopping at US$2,224 per tonne with a spike of US$6 per tonne or 0.27 per cent. The LME official settlement price parked at US$2,224.50 per tonne, having registered a similar rise.
Comparison on a Y-o-Y and M-o-M scale
If the LME aluminium price on March 17 last year is taken into account, we can calculate a Year-on-Year slump of 0.34 per cent. On the other hand, when we consider the price on February 19, a Month-on-Month increase of 1.81 per cent can be seen.
The LME 3-month bid price arrived at US$2,272 per tonne with a US$1.50 per tonne or 0.07 per cent rise, while the LME 3-month offer price added US$1 per tonne or 0.04 per cent to settle at US$2,272.50 per tonne.
The December 25 bid price and December 25 offer price lost US$3 per tonne or 0.12 per cent to anchor at US$2,477 per tonne and US$2,482 per tonne.
LME aluminium opening stock came in at 568,525 tonnes. Live warrants and cancelled warrants stood at 349,150 tonnes and 219,375 tonnes, respectively. LME aluminium 3-month Asian Reference Price dived by US$3.19 per tonne or 0.14 per cent to arrive at US$2,268 per tonne.
SHFE aluminium price today
On March 19, today, the SHFE aluminium price halted at US$2,683 per tonne, with a levitation of US$5 per tonne or 0.19 per cent. If we see the SHFE aluminium price on March 17, last year, a Year-on-Year increase of 1.32 per cent can be calculated. Also, on a Month-on-Month scale, if we take the price on February 19, there is a visible 2.33 per cent hike.
Overnight, the most-traded SHFE 2404 aluminium contract opened at RMB 19,285 per tonne, with its lowest and highest at RMB 19,245 per tonne and RMB 19,425 per tonne before closing at RMB 19,345 per tonne, up RMB 70 per tonne or 0.36 per cent.
SHFE 2307 aluminium added RMB 595 per tonne or 3.38 per cent to RMB 18,185 per tonne. The open interest fell 11,785 lots to 256,640 lots.
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