
Three-month LME aluminium inched up 0.04 per cent to settle at US$ 2,400 per tonne on Wednesday. Shrinking LME aluminium stocks and recovering overseas economy lent support to LME aluminium. It is expected to fluctuate between US$ 2,390-2,410 per tonne today.

LME aluminium cash (bid) price and LME official settlement price further rose US$ 3.50 per tonne to stand at US$ 2,392.50 per tonne on Wednesday, April 28. 3-months bid price and 3-months offer price grew to US$ 2,397.50 per tonne from US$ 2,394 per tonne, also up by US$ 3.50 per tonne. Dec 22 bid price and Dec 22 offer price came in at US$ 2,401 per tonne on Wednesday, increasing by US$ 9.50 per tonne from US$ 2,391.50 per tonne on Tuesday, April 27.
The LME aluminium opening stock declined from 1787525 tonnes to 1782600 tonnes. Live Warrants totalled 1211200 tonnes, while Cancelled Warrants stood at 571400 tonnes.
LME aluminium 3-months Asian Reference Price, however, decreased on April 28 from US$ 2,408.98 per tonne to US$ 2,393.62 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE jumped US$ 50 per tonne on Thursday, April 29, to stand at US$ 2,886 per tonne, following a decline from US$ 2,854 per tonne to US$ 2,836 per tonne on April 28.
The most-active SHFE 2106 aluminium contract advanced 0.76 per cent to close at RMB 18,575 per tonne in overnight trading. Pre-holiday restocking demand and weaker US dollar index supported aluminium prices. The June contract is likely to trade between RMB 18,400-18,700 per tonne today.
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