LME aluminium price surged by $21/t to close the week at $2049/t on Dec 18; SHFE opened the week at $2496/t

The LME complex ended mixed on last Friday, with aluminium fell 0.56 per cent. Benchmark aluminium price on the London Metal Exchange closed the week with an increase of 1.04 per cent to stand at US$ 2049 per tonne.

Both LME aluminium cash (bid) price and LME official settlement price soared by US$ 21 per tonne on Friday, December 18, to peg at US$ 2049 per tonne. 3-months bid price and 3-months offer price stood at US$ 2059 per tonne growing by US$ 18 per tonne from US$ 2041 per tonne on December 17. Dec 21 bid price and Dec 21 offer price came in at US$ 2074 per tonne, up by US$ 10 per tonne from the previous day.

The LME aluminium opening stock further decreased to 1367025 tonnes on Friday, December 18. Live Warrants hovered at 1180375 tonnes, while Cancelled Warrants at 186650 tonnes.

LME aluminium 3-months Asian Reference Price stood at US$ 2079 per tonne, as of Thursday, December 17.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE opened the week today, on December 21, with a decline of US$ 58 per tonne to US$ 2496 per tonne after two consecutive hikes on December 17 and 18 from US$ 2501 per tonne to US$ 2554 per tonne.

The most-liquid SHFE 2101 aluminium contract finished the day 1.91 per cent higher at RMB 16,780 per tonne. Open interest fell 2,601 lots to 113,876 lots.