SHFE price mounts to US$2,717/t; LME aluminium is closed for Christmas holiday

Today, on December 27, the SHFE benchmark aluminium price has hiked by US$51 per tonne or 1.91 per cent to reside at US$2,717 per tonne.

The most-traded SHFE 2301 aluminium closed up 0.46 per cent or RMB 85 per tonne at RMB 18,715 per tonne, with open interest down 18,232 lots to 76,410 lots.

Overnight, the most-traded SHFE 2301 aluminium contract opened at RMB 18,695 per tonne, with its low and high at RMB 18,655 per tonne and RMB 18,820 per tonne before closing at RMB 18,770 per tonne, up RMB 55 per tonne or 0.29 per cent.

LME aluminium price

On Monday, December 26, LME was closed due to the Christmas holiday. However, on Friday, December 23, both LME aluminium cash bid price and LME aluminium official settlement price recorded a drop of US$19.50 per or 0.82 per cent and US$20 per tonne or 0.85 per cent to close at US$2,341.50 per tonne and US$2,342 per tonne.

The 3-month bid price and the 3-month offer price had gone down by US$24 per tonne or 1 per cent to settle at US$2,371 per tonne and US$2,373 per tonne.

December 23 bid price and December 23 offer price dipped by US$23 per tonne or 0.92 per cent to peg at US$2,457 per tonne and US$2,462 per tonne.

LME aluminium opening stock was recorded at 466,600 tonnes. Live warrants and Cancelled warrants pegged at 227,225 tonnes and 239,375 tonnes.

LME aluminium 3-month Asian Reference Price had halted at US$2,407.75 per tonne after recording a growth of US$13.75 per tonne or 0.57 per cent.