LME aluminium benchmark price hikes by US$25/t to US$2,255/t; SHFE price grows to US$2,581/t

LME aluminium opened at US$2,227.5 per tonne on Wednesday, with its low and high at US$2,201 per tonne and US$2,249 per tonne, respectively, before closing at US$2,247 per tonne, up US$19 per tonne or 0.85 per cent.

On Wednesday, May 31, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$25 per tonne or 1.12 per cent to halt at US$2,254.50 per tonne and US$2,255 per tonne.

3-month bid price and 3-month offer price slipped by US$3 per tonne or 0.12 per cent and US$3.5 per tonne or 0.15 per cent to settle at US$2,221 per tonne and US$2,221.50 per tonne.

December 24 bid price and December 24 offer price dipped by US$10 per tonne or 0.41 per cent to score at US$2,380 per tonne and US$2,385 per tonne.

LME aluminium opening stock halted at 579525 tonnes. Live warrants and Cancelled warrants scored at 397500 tonnes and 182025 tonnes.

LME aluminium 3-month Asian Reference Price has inched up by US$0.73 per tonne to come in at US$2,220.46 per tonne.

SHFE aluminium price

On June 1, the SHFE aluminium price has increased by US$16 per tonne or 0.62 per cent to stand at US$2,581 per tonne.

The most-traded SHFE 2307 aluminium contract opened at RMB 18,000 per tonne overnight, with its low and high at RMB 17,945 per tonne and RMB 18,160 per tonne before closing at RMB 18,115 per tonne, up RMB 180 per tonne or 1 per cent.