LME aluminium benchmark price surges by US$64/t to US$2,364/t; SHFE price mounts to US$2,704/t

LME 3M aluminium opened at US$2,370 per tonne and closed Wednesday at US$2,440 per tonne, up US$72 per tonne or 3.04 per cent.

On March 1, Wednesday, both LME aluminium cash bid price and LME aluminium official settlement price escalated by US$64 per tonne or 2.78 per cent to halt at US$2,362 per tonne and US$2,364 per tonne.

On the same day, 3-month bid price and 3-month offer price expanded by US$60.5 per tonne or 2.57 per cent to peg at US$2,405.50 per tonne and US$2,406.50 per tonne.

December 24 bid price and December 24 offer price surged by US$60 per tonne or 2.36 per cent and 2.60 per cent to close at US$2,593 per tonne and US$2,598 per tonne.

LME aluminium opening stock came in at 550100 tonnes. Live warrants and Cancelled warrants closed at 439750 tonnes and 110350 tonnes.

LME aluminium 3-month Asian Reference Price gained US$51.97 per tonne or 2.20 per cent to stop at US$2,413.67 per tonne.

SHFE aluminium price

On Thursday, March 2, the SHFE aluminium benchmark price hiked by US$34 per tonne or 1.27 per cent to peg at US$2,704 per tonne.

The most-traded SHFE 2304 aluminium closed up 0.24 per cent or RMB 45 per tonne at RMB 18,460 per tonne, with open interest down 7,887 lots to 215,358 lots.

The most-traded SHFE aluminium opened at RMB 18,685 per tonne overnight and closed the night session at RMB 18,670 per tonne, up RMB 120 per tonne or 0.65 per cent.