LME aluminium opened at US$2,813.50 per tonne on Thursday, December 30, and closed at US$2,815 per tonne, an increase of US$3 per tonne or 0.11 per cent.
Both LME aluminium cash (bid) price and LME official settlement price continued to decrease on Thursday, December 30, to stand at US$2,829 per tonne and US$2,829.50 per tonne, respectively. Data showed the prices dropped by US$5.50 per tonne. On the other hand, 3-month bid price and 3-month offer price increased by US$6.50 per tonne and US$7 per tonne to come in at US$2,824.50 per tonne and US$2,825.50 per tonne. December 22 bid price and December 22 offer price also closed higher at US$2,793 per tonne and US$2,798 per tonne, respectively.
LME aluminium opening stock slipped to 943500 tonnes. Live warrants remained restrained at 710150 tonnes, while Cancelled warrants grew to 249550 tonnes.
LME aluminium 3-month Asian Reference Price closed at US$2,828.26 per tonne.
SHFE Aluminium Price Trend
On Friday, December 31, the benchmark aluminium price for SHFE further moved up by US$33 per tonne to close the week at US$3,197 per tonne.
The SHFE aluminium notched palpable gains today amid multiple bullish factors. First, the aluminium output in Europe was cut amid surging electricity prices; second, the weekly aluminium ingot social inventory dropped by 65,000 tonnes; and lastly, the Fourteenth Five-Year Plan for the raw materials industry also proposed new requirements including carbon emissions for aluminium and alumina.
The most-traded SHFE 2202 aluminium contract opened at RMB 20,455 per tonne overnight, with the highest and lowest prices at RMB 20,525 per tonne and RMB 20,375 per tonne before closing at RMB 20,450 per tonne, up 0.89 per cent.
source https://www.alcircle.com/news/lme-aluminium-price-drops-by-us5-50-t-to-settle-at-us2829-50-t-shfe-price-surges-by-us33-t-74255
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