LME aluminium benchmark price hikes by US$33/t to US$2,265/t; SHFE price moves up by US$5/t

LME aluminium opened at US$2,291 per tonne on Thursday, with its high and low at US$2,345.5 per tonne and US$2,287 per tonne, respectively, before closing at US$2,326.5 per tonne, an increase of US$41.5 per tonne or 1.82 per cent.

On Thursday, March 23, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$32.5 per tonne or 1.45 per cent and US$33 per tonne or 1.47 per cent to stand at US$2,264 per cent and US$2,265 per tonne.

3-month bid price and 3-month offer price increased by US$30.5 per tonne or 1.33 per cent and US$31 per tonne or 1.35 per cent to score at US$2,312.50 per tonne and US$2,313.50 per tonne.

December 24 bid price and December 24 offer price ascended by US$23 per tonne to halt at US$2,520 per tonne and US$2,525 per tonne.

LME aluminium opening stock settled at 538950 tonnes. Live warrants and Cancelled warrants resided at 431800 tonnes and 107150 tonnes.

The 3-month Asian Reference Price grew by US$27.29 per tonne or 1.20 per cent to halt at US$2,300.25 per tonne.

SHFE aluminium price

On March 24, the SHFE aluminium benchmark price went up by US$5 per tonne or 0.18 per cent to reside at US$2,681 per tonne.

The most-traded SHFE 2305 aluminium closed up 0.50 per cent or RMB 90 per tonne at RMB 18,235 per tonne, with open interest up 4,636 lots to 224,813 lots.

Overnight, the most-traded SHFE 2305 aluminium contract opened at RMB 18,260 per tonne, with its lowest and highest at RMB 18,240 per tonne and RMB 18,390 per tonne before closing at RMB 18,345 per tonne, up RMB 110 per tonne or 0.6 per cent.