LME aluminium benchmark price expands to US$2599/t; SHFE price gains US$14/t

The previous trading day, LME aluminium opened at US$2,608.5 per tonne, reached a high of US$2,675 per tonne and a low of US$2,603 per tonne, and closed at US$2,658 per tonne, up US$36.5 per tonne or 1.39 per cent.

On Friday, May 24, the LME aluminium cash bid price and LME aluminium official settlement price surged by US$48 per tonne, or 1.88 per cent, to US$2,598 per tonne and US$2,599 per tonne, respectively. 

As per the LME data, 3-month bid price and 3-month offer price also expanded by US$47 per tonne or 1.80 per cent and US$47.5 per tonne or 1.82 per cent to stand at US$2,649 per tonne and US$2,650 per tonne. 

December 25 bid price and December 25 offer price gained US$48 per tonne or 1.76 per cent to halt at US$2,768 per tonne and US$2,773 per tonne. 

LME aluminium opening stock came in at 1124700 tonnes. Live warrants and Cancelled warrants stood at 653400 tonnes and 471300 tonnes.  LME aluminium 3-month Asian Reference Price moved up by US$2.13 per tonne or 0.08 per cent to arrive at US$2,618.10 per tonne. 

SHFE aluminium price       

Today, on May 27, the Shanghai Futures Exchange (SHFE) aluminium benchmark price has increased by US$14 per tonne or 0.48 per cent to score at US$2,894 per tonne. On last Friday night, the most-traded SHFE 2407 aluminium contract opened at RMB 20,975 per tonne, reaching a high of RMB 21,085 per tonne and a low of RMB 20,930 per tonne, and closed at RMB 21,015 per tonne, up RMB 125 per tonne or 0.6 per cent.