Back-to-back growth in LME aluminium price brings it about 5% higher M-o-M; SHFE is closed for mid-autumn holiday

On Friday, September 13, the LME aluminium benchmark price continued to grow for the fourth day in a row and exceeded the US$2,400 per tonne level.

The LME graph movement suggests the LME aluminium cash bid price and LME aluminium official settlement price increased by US$14 per tonne and US$14.50 per tonne, respectively, to close the week at US$2,404 per tonne and US$2,405 per tonne.

With the latest rise, the LME aluminium benchmark price recorded a month-on-month increase of 4.86 from US$2,293.50 per tonne.

3-month bid price and 3-month offer price stood at US$2,421 per tonne and US$2,421.50 per tonne, marking a growth of US$11.50 per tonne from September 12. December-25 bid price and December-25 offer price ascended by US$11 per tonne to reach US$2,522 per tonne and US$2,533 per tonne, respectively.

On September 13, LME aluminium opening stock amounted to 820850 tonnes, down by 3,500 tonnes from the earlier day. Live Warrants and Cancelled Warrants stood at 350225 tonnes and
470625 tonnes.

LME aluminium 3-month Asian Reference Price accumulated US$23.32 per tonne overnight to settle at US$2,427.30 per tonne as of September 13.

SHFE aluminium price

On Monday, September 16, the Shanghai Future Exchange (SHFE) is observing a holiday for the mid-autumn festival. On Friday, September 13, the aluminium benchmark price on SHFE climbed up by US$24 per tonne and closed the week at US$2,777 per tonne.