LME aluminium benchmark price surges by US$77.5/t to US$2,611/t; SHFE price grows by US$16/t

LME aluminium opened at US$2,641.5 per tonne on Wednesday and closed the session at US$2,605.5 per tonne, down US$42.5 per tonne or 1.6 per cent.

On Wednesday, February 1, both LME aluminium cash bid price and LME aluminium official settlement price surged by US$77.5 per tonne or 3.06 per cent and 3.05 per cent to stand at US$2,610 per tonne and US$2,611 per tonne.

3-month bid price and 3-month offer price also hiked by US$68.5 per tonne or 2.66 per cent and US$70 per tonne or 2.71 per cent.

December 24 bid price and December 24 offer price gained US$58 per tonne or 2.11 per cent to score at US$2,798 per tonne and US$2,803 per tonne.

LME aluminium opening stock halted at 404150 tonnes. Live warrants and Cancelled warrants came in at 231125 tonnes and 173025 tonnes.

LME aluminium 3-month Asian Reference Price ascended by US$59.46 per tonne or 2.31 per cent to stop at US$2,628.52 per tonne.

SHFE aluminium price

On February 2, the SHFE aluminium benchmark price has increased by US$16 per tonne or 0.56 per cent to reside at US$2,847 per tonne.

The most-traded SHFE 2303 aluminium closed up 1.27 per cent or RMB 240 per tonne at RMB 19,150 per tonne, with open interest up 5,344 lots to 200,509 lots.

The most-traded SHFE 2303 aluminium contract opened at RMB 19,165 per tonne and closed at RMB 19,070 per tonne overnight, down RMB 80 per tonne or 0.42 per cent.