LME benchmark aluminium price marches forward by US$35/t to US$2327/t; SHFE escalates by US$12/t

LME aluminium opened at US$2,378 per tonne on Tuesday, with its high and low at US$2,380 per tonne and US$2,340 per tonne, respectively, before closing at US$2,345 per tonne, a decrease of US$33 per tonne or 1.39 per cent.

On November 8, Tuesday LME aluminium cash bid price went up the graph by US$35 per tonne or 1.53 per cent to halt at US$2,326.50 per tonne, and the LME aluminium official settlement price also had a similar percentage hike resting at US$2,327 per tonne.  

The 3-month bid price and the 3-month offer price both escalated by US$37.50 per tonne or 1.63 per cent to close at US$2,338.50 per tonne and US$2,339.50 per tonne.   

December 23 bid price and December 23 offer price, on the other hand, recorded a rise of US$37 per tonne or 1.56 per cent, stopping at US$2,407 per tonne and US$2,412 per tonne, respectively. 

LME aluminium opening stock plummeted by 6,400 tonnes or 1.12 per cent to settle at 564,375 tonnes from 570,775 tonnes, as was recorded the day before.  

Live warrants totalled 319,725 tonnes, plunging down by 0.97 per cent or 3,125 tonnes. Cancelled warrants read 244,650 tonnes, with a fall of 3,275 tonnes or 1.32 per cent.  

LME aluminium 3-month Asian Reference Price came in at US$2,337.44 per tonne after gaining US$28.32 per tonne or 1.23 per cent.

SHFE aluminium price 

Today, on November 9, the SHFE benchmark aluminium price has gone up by US$12 per tonne or 0.47 per cent to rest at US$2,564 per tonne.

The most-traded SHFE 2212 aluminium contract opened at RMB 18,405 per tonne overnight, with its low and high at RMB 18,375 per tonne and RMB 18,565 per tonne before closing at RMB 18,465 per tonne, up RMB 15 per tonne or 0.08 per cent.

The most-traded SHFE 2212 aluminium closed up 0.57 per cent or RMB 105 per tonne at RMB 18,450 per tonne, with open interest up 4,372 lots to 155,436 lots.