Three-month LME aluminium climbed 0.76% to close at US$2,247.5/t; SHFE opened higher after the Labour Day holiday

Three-month LME aluminium rose 0.76% to close at US$2,247.5 per tonne on Wednesday. SMM expects the contract to trade between US$2,420-2,460 per tonne today.

As of Wednesday, May 5, LME aluminium cash (bid) price stands at US$ 2446 per tonne, LME official settlement price stands at US$ 2446 per tonne; 3-months bid price stands at US$ 2439.50 per tonne, 3-months offer price is US$ 2439.50per tonne; Dec 22 bid price stands at US$ 2428 per tonne, and Dec 22 offer price stands at US$ 2428 per tonne.

The LME aluminium opening stock stood at 1810550 tonnes. Live Warrants totalled 1231600 tonnes, and Cancelled Warrants were 578950 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 2440.61per tonne.

SHFE Aluminium Price Trend

Shanghai base metals Exchange opened after the Labour Day holiday. Benchmark aluminium price for SHFE increased to stand at US$ 2961 per tonne on Thursday, 06 May 2021.

The most-liquid SHFE 2105 aluminium contract is likely to trade between RMB18,800-19,300 per tonne today.