LME benchmark aluminium price mounts up by US$18/t to US$2448.5/t; SHFE also treks upward by US$73/t

LME aluminium opened at US$2,477 per tonne last Friday and closed at US$2,556 per tonne, an increase of US$81 per tonne or 3.27 per cent.

On December 2, Friday LME aluminium cash bid price and the LME aluminium official settlement price went up US$18 per tonne or 0.74 per cent, closing the week at US$2,448 per tonne and US$2,448.50 per tonne, respectively.

The 3-month bid price saw an escalation of US$17.50 per tonne or 0.71 per cent, settling at US$2,477 per tonne, while the 3-month offer price had a price hike of US$18.50 per tonne or 0.75 per cent, resting at US$2,479 per tonne.

December 23 bid price and December 23 offer price both gained US$15 per tonne or 0.59 per cent, stopping at US$2,540 per tonne and US$2,545 per tonne.

LME aluminium opening stock had to lose 1,225 tonnes or 0.24 per cent to settle at 497,925 tonnes from 499,150 tonnes recorded on the previous day.   

Live warrants totalled 228,625 tonnes, with a huge slump of 20,950 tonnes or 8.39 per cent. Cancelled warrants read 269,300 tonnes, marking a plunge of 19,725 tonnes or 7.9 per cent.  

LME aluminium 3-month Asian Reference Price came in at US$2,500.50 per tonne after a hike of US$21.29 per tonne or 0.86 per cent.

SHFE aluminium price 

Today, on December 5, the SHFE benchmark aluminium price has jumped up by US$73 per tonne or 2.68 per cent, closing at US$2,799 per tonne.

The most-traded SHFE 2301 aluminium contract opened at RMB 19,190 per tonne overnight and hit the highest since July at RMB 19,365 per tonne before closing at RMB 19,295 per tonne, up RMB 115 per tonne or 0.6 per cent.

The most-traded SHFE 2301 aluminium closed up 0.57 per cent or RMB 110 per tonne at RMB 19,245 per tonne, with open interest up 5,172 lots to 226,853 lots.