LME aluminium price trended up this week to US$3110/t; SHFE price closed at US$3393/t

Both LME aluminium cash (bid) price and LME official settlement price trended up throughout the week, starting at US$3,044 per tonne and US$3,044.50 per tonne on Monday, January 24. On Tuesday, January 25, LME aluminium cash (bid) price and LME official settlement price rose 60 per cent to come in at US$3,063 per tonne and US$3,064 per tonne, respectively. On Wednesday, January 26, LME aluminium cash (bid) price and LME official settlement price further surged to close at US$3,092.50 per tonne and US$3,093 per tonne. On January 27, the prices settled even higher at US$3,106 per tonne and US$3,107 per tonne, and finally closed the week at US$3,108 per tonne and US$3,110 per tonne, respectively.

3-month bid price and 3-month offer price moved up from US$3,029 per tonne and US$3,031 per tonne on Monday, January 24, to US$3,085 per tonne and US$3,085.50 per tonne on Friday, January 28. On Tuesday, the prices stood at US$3,060 per tonne and US$3,061 per tonne, which grew in the next two consecutive days to close at US$3,095 per tonne and US$3,096 per tonne as of Thursday, January 27.

December 23 bid price and December 23 offer price settled at US$2,815 per tonne and US$2,820 per tonne, respectively, as of Friday, January 28.

LME aluminium opening stock decreased from  859800 tonnes on Monday, January 24, to 811050 tonnes on Friday, January 28.

SHFE aluminium price

On Monday, January 24, the benchmark aluminium price for SHFE opened the week on Monday, January 24, at US$3,330 per tonne, which grew the next day, January 25, to US$3,343 per tonne. On Wednesday, January 26, the SHFE aluminium price surged by US$62 per tonne to come in at US$3,405 per tonne. However, on January 27, the price slipped by US$30 per tonne to stand at US$3,375 per tonne but increased on Friday, January 28, to 3,393 per tonne.