LME aluminium price grows by US$40/t to US$2863/t; SHFE price slips by US$8/t

LME aluminium opened at US$2,885 per tonne on Monday and closed at US$2,880 per tonne, an increase of US$11.5 per tonne or 0.4 per cent.

On Monday, May 30, LME aluminium cash bid price and LME aluminium official settlement price settled at US$2,862 per tonne and US$2,863 per tonne, after witnessing a hike of US$39.5 per tonne or 1.39 per cent and US$40 per tonne or 1.41 per cent.

3-month bid price and 3-month offer price went on to ascend by US$45 per tonne or 1.58 per cent and US$44 per tonne or 1.54 per cent to peg at US$2,890 per tonne and US$2,891 per tonne.

As per the LME price sheet, December 23 bid price and December 23 offer price, both of them experienced a growth of US$40 per tonne or 1.42 per cent to halt at US$2,845 per tonne and US$2,850 per tonne.

LME aluminium Opening stock and Cancelled warrants declined by 5375 tonnes to come in at 465700 tonnes and 274200 tonnes. Live warrants remained restrained at 191500 tonnes.

3-month Asian reference price surged by US$13.58 per tonne or 0.47 per cent to score at US$2890.37 per tonne.

SHFE aluminium price

As of today, May 31, the benchmark aluminium price for SHFE dropped by US$8 per tonne or 0.25 per cent to stop at US$3,115 per tonne.

The most-traded SHFE 2207 aluminium closed up 0.22 per cent or RMB 45 per tonne to RMB 20,765 per tonne, with open interest up 564 lots to 182,387 lots.

Overnight, the most-traded SHFE 2207 aluminium contract opened at RMB 20,840 per tonne, with its low and high at RMB 20,725 per tonne and RMB 20,895 per tonne before closing at RMB 20,740 per tonne, down RMB 25 per tonne or 0.12 per cent.