LME benchmark aluminium price soars to US$2170.5/t; SHFE also goes up by US$21/t

LME aluminium opened at US$2,180 per tonne on Tuesday, with its high and low at US$2,250 per tonne and US$2,156.5 per tonne, respectively, before closing at US$2,215 per tonne, an increase of US$38 per tonne or 1.75 per cent.

On October 25, Tuesday LME aluminium cash bid price went up the graph by US$12 per tonne or 0.56 per cent to peg at US$2,170 per tonne, and the LME aluminium official settlement price also escalated by US$10.50 per tonne or 0.49 per cent to rest at US$2,170.50 per tonne.  

3-month bid price increased by US$12 per tonne or 0.55 per cent to close at US$2,190 per tonne, followed by a 0.6 per cent or US$13 per tonne rise in the 3-month offer price, which stood at US$2,192 per tonne.  

December 23 bid price and December 23 offer price witnessed a US$10 per tonne or 0.44 per cent upward strike, stopping at US$2,272 per tonne and US$2,277 per tonne.

LME aluminium opening stock saw a slight decline of 0.004 per cent or 25 tonnes, from 569,525 tonnes to 569,500 tonnes as of October 25.

Live warrants totalled 331,725 tonnes, gliding up 0.79 per cent or 2,600 tonnes. 

Cancelled warrants read 237,775 tonnes, with a 2,625 tonnes or 1.09 per cent cut.  

LME aluminium 3-month Asian Reference Price came in at US$2,194.74 per tonne after a US$17.21 per tonne or 0.77 per cent drop.

SHFE aluminium price 

However today, on October 26, the SHFE benchmark aluminium price has also gained US$21 per tonne or 0.83 per cent to rest at US$2,559 per tonne.

The most-traded SHFE 2211 aluminium contract opened at RMB 18,480 per tonne overnight, with its high at RMB 18,665 per tonne before closing at RMB 18,635 per tonne, up RMB 126 per tonne or 0.68 per cent.

The most-traded SHFE 2211 aluminium closed down 0.35 per cent or RMB 65 per tonne to RMB 18,530 tonne, with open interest down 10,344 lots to 114,961 lots.