SHFE price gains US$11/t to US$2,718/t; LME closed for Good Friday Holiday

On Monday, April 1, the SHFE aluminium benchmark price has gained US$11 per tonne or 0.40 per cent to settle at US$2,718 per tonne.

The most-traded SHFE 2405 aluminium contract opened at RMB 19,710 per tonne last Friday night, with its lowest and highest at RMB 19,645 per tonne and RMB 19,820 per tonne before closing at RMB 19,665 per tonne, up RMB 45 per tonne or 0.23 per cent.

LME Aluminium Price

On Friday, March 29, the LME market was closed during the Good Friday Holiday. However, on Thursday, March 28, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$32 per tonne or 1.43 per cent to settle at US$2,269.50 per tonne and US$2,270 per tonne.

The 3-month bid price and 3-month offer price grew by US$24 per tonne or 1.05 per cent to close at US$2,310 per tonne and US$2,311 per tonne. December 25 bid price and December 25 offer price gained US$28 per tonne, or 1.12 per cent, to close at US$2,520 per tonne and US$2,525 per tonne.

The opening stock narrowed down by 2,050 tonnes, or 0.37 per cent, to 554,475 tonnes, while the Live and Cancelled Warrants are parked at 342,450 tonnes and 212,025 tonnes, the latter with a plunge of 2,050 tonnes, or 0.96 per cent.

The 3-month Asian Reference Price halted at US$2,303.65 per tonne, with an addition of US$9.67 per tonne, or 0.42 per cent.