LME benchmark aluminium price increases by 2.31% over the Good Friday weekend; SHFE aluminium price gains US$21/t

LME aluminium opened at US$2,342 per tonne in the previous trading day, with its high and low at US$2,387.50 per tonne and US$2,332 per tonne, respectively, before closing at US$2,372 per tonne, up US$35 per tonne or 1.5 per cent.

The London Metal Exchange was temporarily out of action for the Good Friday holidays and it has just resumed on April 2, with the LME cash bid price and the LME official price expanding by US$52.50 per tonne or 2.31 per cent from US$2,269.50 per tonne and US$2,270 per tonne recorded on March 28. Yesterday, the LME cash bid price stood at US$2,322 per tonne and the LME official price halted at US$2,322.50 per tonne. 

The LME 3-month bid price was priced at US$2,362.50 per tonne, and the LME 3-month offer price stopped at US$2,363 per tonne, with a spike of US$52.50 per tonne and US$52 per tonne, respectively. 

According to the LME aluminium price chart, the 25 December bid price and the 25 December offer price both grew by US$43 per tonne or 1.7 per cent to clock at US$2,563 per tonne and US$2,568 per tonne. 

The opening stock officiated at 551,400 tonne, with a loss of 3,075 tonnes, while the Live and Cancelled warrants stood at 342,225 tonnes and 209,175 tonnes, respectively. 

LME aluminium Asian reference price escalated by US$50.81 per tonne or 2.2 per cent to finally settle at US$2,354.46 per tonne. 

SHFE aluminium price 

The SHFE aluminium price has levitated by US$21 per tonne or 0.77 per cent to anchor at US$2,742 per tonne. 

Overnight, the most-traded SHFE 2405 aluminium contract opened at RMB 19,885 per tonne, with its lowest and highest at RMB 19,810 per tonne and RMB 19,885 per tonne before closing at RMB 19,860 per tonne, up RMB 115 per tonne or 0.58 per cent. 

SHFE 2307 aluminium added RMB 595 per tonne or 3.38 per cent to RMB 18,185 per tonne. The open interest fell 11,785 lots to 256,640 lots.