LME aluminium benchmark price gains US$17.5/t to US$2,258.50/t; SHFE price dips by US$5/t

LME aluminium opened at US$2273.5 per tonne on Wednesday, low and high at US$2262 per tonne and US$2279 per tonne, respectively, before closing at US$2264 per tonne, down US$17 per tonne or 0.07 per cent.

On Thursday, November 8, both LME aluminium cash bid price and LME aluminium official settlement price grew by US$17.5 per tonne or 0.78 per cent to clock at US$2,258 per tonne and US$2,258.50 per tonne.

3-month bid price and 3-month offer price grew by US$10 per tonne or 0.44 per cent to settle at US$2,273 per tonne and US$2,274 per tonne. December 24 bid price and December 24 offer price also moved up by US$10 per tonne or 0.42 per cent to peg at US$2,383 per tonne and US$2,388 per tonne.

LME aluminium opening stock came in at 461600 tonnes. Live warrants and Cancelled warrants clocked at 203800 tonnes and 257800 tonnes. LME aluminium 3-month Asian Reference Price increased by US$1.98 per tonne or 0.08 per cent to rest at US$2,271.50 per tonne.

SHFE aluminium price

On November 9, the Shanghai Futures Exchange (SHFE) aluminium price has dropped by US$5 per tonne or 0.18 per cent to settle at US$2,644 per tonne. The most-traded SHFE 2312 aluminium contract opened at RMB 19260 per tonne overnight, with its low and high at RMB 19205 per tonne and RMB 19285 per tonne before closing at RMB 19205 per tonne, up RMB 5 per tonne.