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05 MAY 2022 AL CIRCLE

LME travels up in graph to settle at US$2929/t; SHFE rises after the May Day vacation to US$3144/t

EDITED BY : MAYURAKSHI GANGULY 2MINS READ

LME aluminium opened at US$2,924 per tonne on May 4 and closed at US$2,985 per tonne, an increase of US$57 per tonne or 1.95 per cent.

LME travels up in graph to settle at US$2929/t; SHFE rises after the May Day vacation to US$3144/t

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On 4th May, LME aluminium cash bid price and official settlement price halted at US$2,928.50 per tonne and US$2,929 per tonne, respectively, both experiencing a 0.60 per cent or US$17.50 per tonne rise.

3-month bid price stopped at US$2,961.50 per tonne while 3-month offer price came in at US$2,962.50 per tonne with a similar escalation of 0.59 per cent or US$17.50 per tonne.

On the same day, December 23 bid price and December 23 offer price settled at US$2,875 per tonne and US$2,880 per tonne, respectively, both with a 1.16 per cent or US$33 per tonne hike.

LME aluminium opening stock continued to decrease by 0.64 per cent or 3,675 tonnes from 577,650 tonnes to 573,975 tonnes as of 4th May.

Live warrants totalled 387,775 tonnes, facing a meagre rise of 0.01 per cent or 50 tonnes. Cancelled warrants read 186,200 tonnes after 3,725 tonnes or 1.96 per cent was reduced.

The LME aluminium 3-month Asian Reference Price shrank by 2.56 per cent or US$76.50 per tonne to stop at US$2,913.47 per tonne.

Outlook for the Indian Aluminium Industry

SHFE aluminium price 

Today, on 5th May, the benchmark aluminium price for SHFE rose by US$5 per tonne or 0.16 per cent to stand at US$3,144 per tonne if compared with data collected before the May Day closure.

The most-traded SHFE 2206 aluminium contract opened at RMB 20,790 per tonne on April 29 and closed at RMB 20,890 per tonne, up RMB 105 per tonne or 0.51 per cent.

The most-traded SHFE 2206 aluminium closed up 0.14 per cent or RMB 30 per tonne to RMB 20,890 per tonne, with open interest down 9,239 lots to 193,581 lots.

Tagged with:

Price LME China

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EDITED BY : MAYURAKSHI GANGULY 2MINS READ

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