LME aluminium opened at US$3,390 per tonne yesterday and closed at US$3,486 per tonne, an increase of US$91 per tonne or 2.68%.
LME aluminium benchmark prices have been on a structural uptrend due to the Russia-Ukraine conflict. On Tuesday, March 1, LME aluminium cash bid price expanded by US$47 per tonne or 1.36% to close at US$3,495 per tonne. For the same day, LME aluminium official settlement price also levelled up by US$45.5 per tonne or 1.31% to score at US$3,495.50 per tonne. 3-month bid and 3-month offer price also grew by US$17 per tonne to settle at US$3,462 per tonne and US$3,464 per tonne. December 23 bid price and December 23 offer price closed at US$3,175 per tonne and US$3,180 per tonne.
LME aluminium opening stock recorded at 814275 tonnes. Live warrants and Cancelled warrants for the same day came in at 585975 tonnes and 228300 tonnes.
LME aluminium 3-month Asian Reference Price stood at US$3,382.66 per tonne.
SHFE aluminium price
On Wednesday, March 2, the aluminium benchmark price for SHFE moved up by US$46 per tonne to record at US$3,634 per tonne.
The most-traded SHFE 2204 aluminium closed up 0.42% or RMB 95 per tonne to RMB 22,730 per tonne, with open interest up 93 lots to 219,263 lots.
The most-traded SHFE 2204 aluminium contract opened at RMB 22,890 per tonne during last night’s session, with the highest and lowest prices at RMB 22,960 per tonne and RMB 22,840 per tonne before closing at RMB 22,940 per tonne, up RMB 210 per tonne or 0.92%.
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