LME rises after Easter Holidays to US$3312/t; SHFE falls at US$3408/t after five days of steep rise
LME aluminium opened at US$3,295 per tonne on Tuesday and closed at US$3,252 per tonne, down US$47 per tonne or 1.42 per tonne.
LME aluminium cash bid price stood at US$3,310 per tonne and LME aluminium official settlement price halted at US$3,312, gaining 2.25 per cent and 2.30 per cent respectively, if compared with the records of Thursday, last week.
LME resumed on Tuesday after the Good Friday weekend.
3-month bid price of aluminium rose by US$60 per tonne or 1.84 per cent to rest at US$3,325 per tonne. 3-month offer price also faced the same percentage hike to settle at US$3,326 per tonne.
According to Tuesday’s LME official price chart, December 23 bid price stood at US$3,173 per tonne and December 23 offer price at US$3,178, both witnessing an elevation of 1.37 per cent or US$43.
LME aluminium opening stock went down from 608,000 tonnes to 603,650 tonnes as recorded on 19th April. Live warrants totalled 390,925 tonnes recording a fall of 625 tonnes, while Cancelled warrants increased by 3,725 tonnes or 1.72 per cent to close at 212,725 tonnes.
The LME aluminium 3-month Asian Reference Price rose 2.76 per cent or US$89.71 per tonne to close at US$3342.33 per tonne.
SHFE aluminium price
On Wednesday, 20th April, the benchmark aluminium price for SHFE has declined by US$58 per tonne or 1.67 per cent to stand at US$3,408 per tonne.
The most-traded SHFE 2206 aluminium contract opened at RMB 21,835 per tonne overnight and rose to 21,895 per tonne before closing at RMB 21,825 per tonne, down RMB 90 per tonne or 0.41 per cent.
The most-traded SHFE 2205 aluminium closed up 0.53 per cent or RMB 115 per tonne to RMB 21,920 per tonne, with open interest down 14,592 lots to 130,305 lots.
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