LME aluminium price jumps highest ever by US$77.50/t to clock at US$2223/t; SHFE price shrinks by US$35/t

Three-month LME aluminium gained 0.7 per cent to close at US$ 2,218.50 per tonne on Thursday, February 25, and is likely to move around US$ 2,180-2,240 per tonne on February 26.

LME aluminium cash (bid) price and LME official settlement price extended its upswing trend by US$ 77.50 per tonne or 3.61 per cent on Thursday, February 25, to stand at US$ 2223 per tonne. This marks the highest jump ever by the LME aluminium price. 3-months bid price and 3-months offer price came in at US$ 2227 per tonne, soaring by US$ 69.50 per tonne from US$ 2157.50 per tonne on February 24. Dec 22 bid price and Dec 22 offer price hovered around US$ 2272.50 per tonne compared with US$ 2210.50 per tonne on February 24.

The LME aluminium opening stock further decreased from 1337700 tonnes to 1332525 tonnes on Thursday, February 25. Live Warrants totalled 1117475 tonnes, while Cancelled Warrants stood at 215050 tonnes.

LME aluminium 3-months Asian Reference Price continued to decline from US$ 2148.50 per tonne on February 24 to US$ 2230.26 per tonne on February 25.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE shrank by US$ 35 per tonne on Friday, February 26, to reach at US$ 2665 per tonne, following a surge of US$ 104 per tonne to US$ 2700 per tonne on February 25.

The most-active SHFE 2104 aluminium contract rose 1.39 per cent to end at RMB 17,470 per tonne in overnight trading, and is expected to fluctuate between RMB 17,000-17,400 per tonne today.