LME aluminium price grew this week by US$99.50/t to settle at US$2404.50/t; SHFE price closed higher at US$2954/t

Three-month LME aluminium advanced 0.44 per cent to settle at US$ 2,390 per tonne on Monday but fell 0.19 per cent on Tuesday to close at US$ 2,385.50 per tonne. On Wednesday, the price rose 1.17 per cent to US$ 2,413.50 per tonne and closed higher on Thursday at US$ 2,486.50 per tonne.

LME aluminium cash (bid) price and LME official settlement price increased this week during May 24-28 by US$ 99.50 per tonne. The prices started the week nosedived by US$ 98 per tonne to US$ 2,305 per tonne but rebounded through the week. On Tuesday, the prices grew to US$ 2,341 per tonne and further expanded to US$ 2,359.50 per tonne on Wednesday, May 26. On Thursday, May 27, both LME aluminium cash (bid) price and LME official settlement price extended their growth to come in at US$ 2,388 per tonne and closed the week even higher at US$ 2,404.50 per tonne on Friday, May 28.

3-months bid price and 3-months offer price grew this week by US$ 97 per tonne from US$ 2,337 per tonne to US$ 2,434 per tonne. On Tuesday, May 25, the prices stood at 2,372.50 per tonne, up by US$ 35.50 per tonne from the previous day. On Wednesday, May 26, 3-months bid price and 3-months offer price further gained US$ 20.50 per tonne to stand at US$ 2,393 per tonne. Extending the growth, the prices pegged at US$ 2,421 per tonne on Thursday and US$ 2,434 per tonne on Friday, May 28.

Dec 22 bid price and Dec 22 offer price expanded from US$ 2,347 per tonne on May 24 to US$ 2,438 per tonne on May 28.

LME aluminium opening stock declined through the week from 1741825 tonnes to 1718300 tonnes.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE started the week on Monday, May 24, at US$ 2,835 per tonne and grew to US$ 2,858 per tonne on Tuesday, May 25.On Wednesday, May 26, Benchmark aluminium price for SHFE rose to US$ 2,872 per tonne, which on Thursday further climbed to US$ 2,878 per tonne. On Friday, May 28, the price closed higher at US$ 2,954 per tonne.