LME aluminium benchmark price grows to US$2,269/t; SHFE price hikes by US$25/t

LME aluminium opened at US$2,261 per tonne on Wednesday, with its high and low at US$2,308 per tonne and US$2,258.5 per tonne, respectively, before closing at US$2,300 per tonne, an increase of US$35 per tonne or 1.55 per cent.

On Wednesday, May 17, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$33 per tonne or 1,47 per cent and US$33.5 per tonne or 1.49 per cent to settle at US$2,268 per tonne and US$2,269 per tonne.

3-month bid price and 3-month offer price expanded by US$31.5 per tonne or 1.24 per cent and US$31 per tonne or 1.38 per cent to close at US$2,273 per tonne and US$2,273.50 per tonne.

December 24 bid price and December 24 offer price grew by US$30 per tonne or 1.24 per cent and US$25 per tonne or 1.24 per cent to halt at US$2,440 per tonne and US$2,445 per tonne.

LME aluminium opening stock came in at 559000 tonnes. Live warrants and Cancelled warrants stood at 375800 tonnes and 183200 tonnes.

LME aluminium 3-month Asian Reference Price moved up by US$4.52 per tonne or 0.20 per cent to clock at US$2,263.19 per tonne.

SHFE aluminium price

On May 18, the SHFE aluminium price has ascended by US$25 per tonne or 0.95 per cent to reside at US$2,635 per tonne.

SHFE 2306 aluminium added RMB 225 per tonne or 1.24 per cent to RMB 18,375 per tonne. The open interest lost 11,283 lots to 171,469 lots.

The most-traded SHFE 2306 aluminium contract opened at RMB 18,480 per tonne overnight, with its low and high at RMB 18,450 per tonne and RMB 18,545 per tonne before closing at RMB 18,470 per tonne, up RMB 95 per tonne or 0.52 per cent.