LME aluminium price settled 1.15% higher at US$2022/t; SHFE extended growth to US$2465/t
The LME complex cruised higher, with aluminium increased 1.3 per cent. Benchmark aluminium price on the London Metal Exchange stood 1.15 per cent higher at US$ 2022 per tonne on Thursday, December 24, from US$ 1999 per tonne on Wednesday.
LME aluminium cash (bid) price and LME official settlement price rose for the second day in a row by US$ 23 per tonne on Thursday, December 24, to peg at US$ 2022 per tonne. 3-months bid price and 3-months offer price stood at US$ 2025.50 per tonne, up by US$ 17 per tonne from US$ 2008.50 per tonne on December 23. Dec 21 bid price and Dec 21 offer price came in at US$ 2050.50 per tonne.
The LME aluminium opening stock inched down from 1378100 tonnes to 1372350 tonnes on Thursday, December 24. Live Warrants stood at 1190225 tonnes, while Cancelled Warrants at 182125 tonnes.
LME aluminium 3-months Asian Reference Price hovered at US$ 2019.67 per tonne, as of Thursday, December 24.
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SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE extended growth to stand at US$ 2465 per tonne on Friday, December 25, 2020.
The most-liquid SHFE 2102 aluminium contract finished the day 1.5 per cent higher at RMB 15,940 per tonne. Open interest increased 6,176 lots to 112,782 lots.
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