LME benchmark aluminium price glides up by US$45.5/t; SHFE escalates to US$2729/t with US$84/t addition

LME aluminium opened at US$2,377.50 per tonne on Wednesday and closed at US$2,491 per tonne, an increase of US$109.50 per tonne or 4.6 per cent.

On November 30, Wednesday LME aluminium cash bid price gained US$45 per tonne or 1.92 per cent, closing at US$2,386 per tonne and the LME aluminium official settlement price went up US$45.50 per tonne or 1.94 per cent to peg at US$2,387 per tonne.  

The 3-month bid price saw a rise of US$38 per tonne or 1.6 per cent, settling at US$2,418 per tonne, while the 3-month offer price had a similar price hike of US$37 per tonne or 1.55 per cent, resting at US$2,419 per tonne.

December 23 bid price and December 23 offer price both soared by US$37 per tonne or 1.51 per cent, stopping at US$2,487 per tonne and US$2,492 per tonne.

LME aluminium opening stock plummeted by 1,925 tonnes or 0.38 per cent to settle at 501,225 tonnes from 503,150 tonnes recorded on the previous day.   

Live warrants totalled 279,425 tonnes, shedding 4,850 tonnes or 1.73 per cent. Cancelled warrants read 226,650 tonnes, marking a spike of 2,925 tonnes or 1.31 per cent.  

LME aluminium 3-month Asian Reference Price came in at US$2,376 per tonne after losing US$26 per tonne or 1.08 per cent.

SHFE aluminium price 

Today, on December 1, the SHFE benchmark aluminium price has levitated by US$84 per tonne or 3.17 per cent, closing at US$2,729 per tonne.

The most-traded SHFE 2301 aluminium contract opened at RMB 19,025 per tonne overnight and rose to RMB 19,180 per tonne before closing at RMB 19,150 per tonne, up RMB 355 per tonne or 1.89 per cent.

The most-traded SHFE 2301 aluminium closed down 0.82 per cent or RMB 155 per tonne at RMB 18,795 per tonne, with open interest down 23,251 lots to 199,944 lots.

source https://www.alcircle.com/news/lme-benchmark-aluminium-price-glides-up-by-us45-5-t-shfe-escalates-to-us2729-t-with-us84-t-addition-87284