LME aluminium price gains US$48.5/t to settle at US$2,245.50/t; SHFE price up by US$19/t

LME aluminium opened at US$2,227 per tonne Tuesday, with its high and low at US$2,275 per tonne and US$2,218 per tonne, respectively, before closing at US$2,257 per tonne, an increase of US$31.5 per tonne or 1.42 per cent.

On Tuesday, November 1, both LME aluminium cash bid price and LME aluminium official settlement price ascended by US$49 per tonne or 2.23 per cent and US$48.5 per tonne or 2.20 per cent to close at US$2,245 per tonne and US$2,245.50 per tonne.

3-month bid price and 3-month offer price were hiked by US$48.5 per tonne or 2.19 per cent and US$47 per tonne or 2.12 per cent to score at US$2,253.50 per tonne and US$2,254 per tonne.

December 23 bid price and December 23 offer price settled at US$2,323 per tonne and US$2,328 per tonne after witnessing a growth of US$43 per tonne or 1.88 per cent.

LME aluminium opening stock came in at 583975 tonnes. Live warrants and Cancelled warrants were recorded at 332400 tonnes and 251575 tonnes.

LME aluminium 3-month Asian Reference Price surged by US44.33 per tonne or 6.12 per cent to close at US$2,238 per tonne.

SHFE aluminium price 

On Wednesday, November 2, the SHFE aluminium benchmark price went up by US$19 per tonne or 0.77 per cent, to rest at US$2,473 per tonne.

The most-traded SHFE 2212 aluminium closed up 0.56 per cent or RMB 100 per tonne to RMB 17,905 per tonne, with open interest down 15,992 lots to 176,411 lots.

Overnight, the most-traded SHFE 2212 aluminium contract opened at RMB 17,985 per tonne, with its low and high at RMB 17,795 per tonne and RMB 18,000 per tonne before closing at RMB 17,865 per tonne, down RMB 40 per tonne or 0.22 per cent.