LME benchmark aluminium price skips 18.14% upward M-o-M; SHFE loses US$35/t today

The London Metal Exchange graph registered growth in aluminium prices on April 22, with the LME aluminium cash bid and the LME aluminium official price gaining US$8 per tonne or 0.3 per cent and US$8.50 per tonne or 0.32 per cent to close at US$2,653 per tonne and US$2,654 per tonne, respectively. On a Month-on-Month paradigm, there has been a massive upsurge of US$407.50 per tonne or 18.14 per cent from US$2,246.50 per tonne recorded on March 22.

The LME 3-month bid price and the LME 3-month offer price have marked an increase of US$5.50 per tonne or 0.2 per cent to settle at US$2,660 per tonne and US$2,660.50 per tonne.

The LME 25-December bid price and the 25-December offer price have declined by US$17 per tonne or 0.62 per cent to officiate at US$2,725 per tonne and US$2,730 per tonne.

The opening stock has slumped by 4,000 tonnes or 0.79 per cent to close at 500,000 tonnes. Live and cancelled stocks parked at 152,000 tonnes and 348,000 tonnes.

The LME Asian reference price has soared by US$61.80 per tonne or 2.38 per cent to arrive at US$2,660.97 per tonne.

SHFE aluminium price

The Shanghai Futures Exchange (SHFE) aluminium benchmark price has stopped at US$2,810 per tonne, with a plunge of US$35 per tonne or 1.23 per cent.