LME benchmark aluminium price treks US$71.5/t higher at US$2,330/t after Good Friday weekend; SHFE increases by US$47/t

LME aluminium opened at US$2,330.5 per tonne on Thursday, with its high and low at US$2,385 per tonne and US$2,321 per tonne respectively before closing at US$2,363 per tonne, an increase of US$39 per tonne or 1.68 per cent.

On April 13, Thursday, the LME aluminium cash bid price came in at US$2,329 per tonne, with a noticeable augmentation of US$71 per tonne or 3.14 per cent and the LME aluminium official settlement price settled at US$2,330 per tonne, heightening by US$71.50 per tonne or 3.16 per cent. 

The 3-month bid price escalated by US$62.50 per tonne or 2.71 per cent to settle at US$2,364 per tonne, and the 3-month offer price went up the graph by US$63 per tonne or 2.74 per cent halting at US$2,365 per tonne.

December 24 bid price and December 24 offer price halted at US$2,550 per tonne and US$2,555 per tonne, with a US$55 per tonne or 2.2 per cent spike.

LME aluminium opening stock witnessed a 3,325 tonnes or 0.63 per cent surge to anchor at 530,775 tonnes from the 527,450 tonnes recorded the day before.

Live warrants totalled 450,750 tonnes, recording an influx of 6,050 tonnes, whereas Cancelled warrants read 80,025 tonnes, with 2,725 tonnes or 3.29 per cent loss.

The 3-month Asian Reference Price came in at US$2,322.39 per tonne after US$16.96 per tonne or 0.73 per cent got added to it.

SHFE aluminium price

On April 14, today, the SHFE aluminium benchmark price settled at US$2,739 per tonne, with a US$47 per tonne or 1.74 per cent rise.

Overnight, the most-traded SHFE 2305 aluminium contract prices opened at RMB 18,630 per tonne, with its lowest and highest at RMB 18,595 per tonne and RMB 18,730 per tonne before closing at RMB 18,690 per tonne, up RMB 200 per tonne or 1.08 per cent.

SHFE 2305 aluminium rose RMB 50 per tonne or 0.27 per cent to RMB 18,490 per tonne. The open interest dipped 6,123 lots to 175,526 lots.