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23 SEPTEMBER 2022 AL CIRCLE

LME benchmark aluminium price soars up to US$2195.5/t; SHFE hikes US$14/t

EDITED BY : MAYURAKSHI GANGULY 2MINS READ

LME aluminium opened at US$2,200.50 per tonne on Thursday and closed at US$2,223 per tonne, an increase of US$20 per tonne or 0.91 per cent.

LME benchmark aluminium price soars up to US$2195.5/t; SHFE hikes US$14/t , Alcircle News

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LME aluminium cash bid price has increased by US$6 per tonne or 0.27 per cent to settle at US$2,195 per tonne, and LME aluminium official settlement price has risen by US$4.50 per tonne or 0.2 per cent to rest at US$2,195.50 per tonne on Thursday, September 22.  

3-month bid price has dropped by 0.07 per cent or US$1.50 per tonne to stand at US$2,214.50 per tonne, while the 3-month offer price has witnessed a US$2.50 per tonne or 0.11 per cent slump, closing at US$2,215.50 per tonne. 

December 23 bid price and December 23 offer price both lose 0.17 per cent or US$4 per tonne, stopping at US$2,313 per tonne and US$2,318 per tonne, respectively.

Domestic production of aluminium may be curtailed in the upcoming days, but the downstream producers will begin stocking ahead of the National Day Holiday, generating high market demand. 

LME aluminium opening stock continued to decrease by 0.49 per cent or 1,675 tonnes, from 343,325 tonnes to 341,650 tonnes as of September 22.

Live warrants totalled 278,325 tonnes, suffering a loss of 0.1 per cent or 275 tonnes. 

Cancelled warrants read 63,325 tonnes, shedding 2.16 per cent or 1,400 tonnes from the day before.

LME aluminium 3-month Asian Reference Price came in at US$2,209.87 per tonne after 1.8 per cent, or US$40.56 per tonne, got deducted from it.

Future of Aluminium in Transportation Sector

SHFE aluminium price 

Today, on September 23, the SHFE benchmark aluminium price has escalated by US$14 per tonne or 0.53 per cent to arrive at US$2,643 per tonne, if compared with the data of yesterday.

The most-traded SHFE 2210 aluminium contract opened at RMB 18,740 per tonne overnight and rose to RMB 18,860 per tonne before closing at RMB 18,755 per tonne, up RMB 70 per tonne or 0.37 per cent.

The most-traded SHFE 2210 aluminium closed up 0.54 per cent or RMB 100 per tonne to RMB 18,685 per tonne, with open interest down 5,985 lots to 138,996 lots.

 

Tagged with:

Price LME Aluminium

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EDITED BY : MAYURAKSHI GANGULY 2MINS READ

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