Three-month LME aluminium ended the week higher at US$2,506/t; SHFE aluminium added 1.47%

Three-month LME aluminium went up 0.78% to close at US$2,506 per tonne last Friday. SMM expects the contract to trade between US$2,480-2,540 per tonne today.

As of Friday, May 28, LME aluminium cash (bid) price stands at US$ 2404.50 per tonne, LME official settlement price stands at US$ 2404.50 per tonne; 3-months bid price stands at US$ 2434 per tonne, 3-months offer price is US$ 2434 per tonne; Dec 22 bid price stands at US$ 2438 per tonne, and Dec 22 offer price stands at US$ 2438 per tonne.

The LME aluminium opening stock stood at 1718300 tonnes. Live Warrants totalled 1127600 tonnes, and Cancelled Warrants were 590700 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 2460.66 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE increased to stand at US$ 2961 per tonne on Monday, 31 May 2021.

The most-active SHFE 2107 aluminium contract rose 1.47% to close the day at RMB18,670 per tonne on Friday. The most-liquid SHFE 2107 aluminium contract rose 1.28% to settle at RMB18,970 per tonne on the night of May 28.It is expected to trade between RMB18700-19100 per tonne today.