LME aluminium price surges by US$64/t to US$2,511/t; SHFE price ascends by US$24/t

LME aluminium opened at US$2,552 per tonne last Friday and closed at US$2,592.6 per tonne, an increase of US$44.1 per tonne or 1.73 per cent.

On Friday, January 13, both LME aluminium cash bid price and LME aluminium official settlement price shot up by US$94.5 per tonne or 3.86 per cent and US$64 per tonne or 2.61 per cent to settle at US$2,510.50 per tonne and US$2,511 per tonne.

3-month bid price and 3-month offer price surged by US$68.5 per tonne or 2.76 per cent and US$70 per tonne or 2.82 per cent to reside at US$2,544 per tonne and US$2,546 per tonne.

December 24 bid price and December 24 offer price also hiked by US$60 per tonne or 2.26 per cent and US$2.25 per cent to stand at US$2,710 per tonne and US$2,715 per tonne.

LME aluminium opening stock settled at 403250 tonnes. Live warrants and Cancelled warrants scored at 191575 tonnes and 211675 tonnes.

LME aluminium 3-month Asian Reference Price escalated by US$80.64 per tonne or 3.24 per cent to clock at US$2,564.50 per tonne.

SHFE aluminium price 

On Monday, January 16, the SHFE benchmark aluminium price has ascended by US$24 per tonne or 0.87 per cent to reside at US$2,759 per tonne.

The most-traded SHFE 2302 aluminium closed up 1.06 per cent or RMB 195 per tonne at RMB 18,515 per tonne, with open interest down 9,729 lots to 103,051 lots.

The most-traded SHFE 2302 aluminium contract opened at RMB 18,495 per tonne at last Friday’s night session before closing at RMB 18,640 per tonne, up RMB 250 per tonne or 1.36 per cent.