SHFE jumps up US$9/t to US$2726/t; LME remains closed to honour Boxing Day

Today, on December 28, the SHFE benchmark aluminium price has ascended by US$9 per tonne or 0.33 per cent to reside at US$2,726 per tonne.

Overnight, the most-traded SHFE 2302 aluminium contract opened at RMB 19,060 per tonne, with its low and high at RMB 18,980 per tonne and RMB 19,015 per tonne before closing at RMB 19,015 per tonne, up RMB 110 per tonne or 0.58 per cent.

The most-traded SHFE 2302 aluminium closed up 2.91 per cent or RMB 540 per tonne at RMB 19,105 per tonne, with open interest up 24,250 lots to 168,550 lots.

LME aluminium price

The LME was closed on Monday, December 26 due to the Christmas holiday. The following day, December 27 it was kept shut to honour Boxing Day.

However, on December 23, Friday, LME aluminium cash bid price slumped by US$19.50 per tonne or 0.82 per cent, closing at US$2,341.50 per tonne and the LME aluminium official settlement price dropped by US$20 per tonne or 0.85 per cent to rest at US$2,342 per tonne.

The 3-month bid price and the 3-month offer price experienced a downfall of US$24 per tonne or 1 per cent to close pre-holidays at US$2,371 per tonne and US$2,373 per tonne, respectively.

December 23 bid price and December 23 offer price both witnessed a similar plunge of US$23 per tonne or 0.92 per cent, stopping at US$2,457 per tonne and US$2,462 per tonne.

LME aluminium opening stock dived down by 6,400 tonnes or 1.35 per cent to settle at 466,600 tonnes from 473,000 tonnes recorded on Thursday.   

Live warrants totalled 227,225 tonnes, after shedding 6,075 tonnes or 2.6 per cent. Cancelled warrants read 239,375 tonnes, with a loss of 325 tonnes or 0.13 per cent.  

Only, the 3-month Asian Reference Price came in at US$2,407.75 per tonne after a surge of US$13.75 per tonne or 0.57 per cent.