The LME aluminium benchmark price grew slightly on Friday, January 28, after incessant hikes from U$3,044.50 per tonne to US$3,107 per tonne during January 24-27.
On Friday, January 28, LME aluminium cash (bid) price and LME aluminium official settlement price inched up by only US$2 per tonne and US$3 per tonne, respectively, to come in at US$3,108 per tonne and US$3,110 per tonne. But 3-month bid price and 3-month offer price descended by US$10 per tonne and US$11 per tonne to close at US$3,085 per tonne. December 23 bid price and December 23 offer price also closed lower at US$2,815 per tonne and US$2,820 per tonne as of January 28.
LME aluminium opening stock totalled at 811050 tonnes on January 28. Live warrants remained restrained at 450250 tonnes, while Cancelled warrants declined to 360800 tonnes.
LME aluminium 3-month Asian Reference Price settled at US$3,120.95 per tonne, up by US$33.23 per tonne from US$3,076.23 per tonne.
SHFE aluminium price
The most-traded SHFE 2203 aluminium closed up 2.05 per cent or RMB 440 per tonne to RMB 21,950 per tonne on Friday night, with open interest down 1415 lots to 203307 lots.
On Monday, January 31, the SHFE market is closed for the Chinese New Year holiday. It will open on February 7, 2022.
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