LME benchmark aluminium price remains stuck at US$2265/t on March 24; SHFE aluminium price increases by US$2/t

LME aluminium opened at US$2,329 per tonne last Friday, with its high and low at US$2,364.5 per tonne and US$2,312.5 per tonne respectively before closing at US$2,344 per tonne, an increase of US$17.5 per tonne or 0.75 per cent.

On March 24, Friday, the LME aluminium cash bid price and the LME aluminium official settlement price refrained from any change remaining calm at US$2,264 per tonne and US$2,265 per tonne.

The 3-month bid price and the 3-month offer price slipped by US$0.50 per tonne or 0.02 per cent, stopping at US$2,312 per tonne and US$2,313 per tonne, respectively.

December 24 bid price and December 24 offer price halted at US$2,513 per tonne and US$2,518 per tonne with a drop of US$7 per tonne or 0.28 per cent.

LME aluminium opening stock experienced a rapid loss of 6,225 tonnes or 1.15 per cent to 532,725 tonnes from 538,950 tonnes recorded the day before.     

Live warrants totalled 426,975 tonnes, with 4,825 tonnes or a 1.12 per cent decline. Cancelled warrants read 105,750 tonnes, with a fall of 1,400 tonnes or 1.31 per cent.

The 3-month Asian Reference Price came in at US$2,346.14 per tonne after a rise of US$45.89 per tonne or 1.99 per cent.

SHFE aluminium price

On March 27, today, the SHFE aluminium benchmark price has settled at US$2,683 per tonne, with a US$2 per tonne or 0.07 per cent growth.

The most-traded SHFE 2305 aluminium contract opened at RMB 18,405 per tonne at last Friday’s night session, with its high and low at RMB 18,485 per tonne and RMB 18,405 per tonne before closing at RMB 18,435 per tonne, down RMB 35 per tonne, or 0.19 per cent.

The most-traded SHFE 2305 aluminium closed up 1.21 per cent or RMB 220 per tonne at RMB 18,470 per tonne, with open interest down 1,686 lots to 223,127 lots.