SHFE rises for the fourth day to settle at US$3426/t; LME to open after Good Friday festivities

On Monday, 18^th April, the benchmark aluminium price for SHFE has expanded by US$8 per tonne or 0.23 per cent to stand at US$3,426 per tonne.

The most-traded SHFE 2205 aluminium contract opened at RMB 21,820 per tonne during last Friday’s night session and rose to RMB 21,905 per tonne before closing at RMB 21,755 per tonne, down RMB 95 yuan per tonne or 0.43 per cent.

The most-traded SHFE 2205 aluminium closed up 2.29 per cent or RMB 490 per tonne to RMB 21,850 per tonne, with open interest down 11,437 lots to 156,123 lots.

LME aluminium price

The LME was closed last Friday due to the Good Friday holiday, and will remain closed for today due to the Easter holiday, but will open on Tuesday.

On Thursday, LME aluminium cash bid price stood at US$3,237 per tonne and LME aluminium official settlement price halted at US$3,237.50, gaining 1 per cent and 0.95 per cent respectively, if compared with the records of Wednesday.

3-month bid price of aluminium rose by US$27.50 per tonne or 0.85 per cent to rest at US$3,265 per tonne. 3-month offer price also faced the same percentage of hike to settle at US$3,266 per tonne.

December 23 bid price stood at US$3,130 per tonne and December23 offer price at US$3,135, both witnessing an elevation of 0.32 per cent or US$10.

LME aluminium opening stock went low from 612,275 tonnes to 608,000 tonnes as recorded on 14^th April. Live warrants totalled 391,550 tonnes recording a fall of 5,125 tonnes, while Cancelled warrants increased by 850 tonnes or 0.39 per cent to close at 216,450 tonnes.

The LME aluminium 3-month Asian Reference Price dropped by 0.85 per cent or US$27.88 to stop at US$3252.62 per tonne.