LME benchmark aluminium price ascends by US$17/t; SHFE aluminium price jumps US$10/t up

LME aluminium prices finished the day at US$2,382.5 per tonne, a gain of US$17.5 per tonne or 0.74 per cent.

On March 28, Tuesday, the LME aluminium cash bid price and the LME aluminium official settlement price soared by US$17 per tonne or 0.74 per cent to close at US$2,314 per tonne and US$2,315 per tonne. The LME aluminium price is on an upward trend after a very long time in March. On March 2, the LME aluminium price recorded the highest bid at US$2,366.50 per tonne, while on March 7 the price came closest to what it was yesterday, pegging at US$2,312.50 per tonne.

The 3-month bid price escalated by US$20 per tonne or 0.85 per cent, stopping at US$2,360 per tonne and the 3-month offer price went up by US$20.50 per tonne or 0.87 per cent halting at US$2,361 per tonne.

December 24 bid price and December 24 offer price halted at US$2,553 per tonne and US$2,558 per tonne with an official upward inclination of US$15 per tonne or 0.59 per cent.

LME aluminium opening stock marked an increase of 4,150 tonnes or 0.79 per cent to 532,025 tonnes from 527,875 tonnes recorded the previous day.      

Live warrants totalled 432,100 tonnes, with a massive hike of 8,400 tonnes or 1.98 per cent. Cancelled warrants read 99,925 tonnes, with a fall of 4,250 tonnes or 4.08 per cent.

The 3-month Asian Reference Price came in at US$2,369.76 per tonne after it grew by US$29.14 per tonne or 1.24 per cent.

SHFE aluminium price

On March 29, today, the SHFE aluminium benchmark price has settled at US$2,712 per tonne, with a US$10 per tonne or 0.37 per cent levitation.

The most active SHFE 2305 aluminium contract closed at RMB 18,705 per tonne in overnight trading, up RMB 15 per tonne or 0.08 per cent.

The most-traded SHFE 2305 aluminium closed up 1.27 per cent or RMB 235 per tonne at RMB 18,690 per tonne, with open interest up 3,969 lots to 219,134 lots.