LME aluminium benchmark price expands to US$2,677/t; SHFE price contracts by US$41/t

On Friday, May 31, both LME aluminium cash bid price and LME aluminium official settlement price hiked by US$11 per tonne or 0.41 per cent and US$11.5 per tonne or 0.43 per cent to dock at US$2.676 per tonne and US$2,677 per tonne, respectively.

As per the London Metal Exchange (LME) data, both 3-month bid price and 3-month offer price went up by US$1.5 per tonne or 0.05 per cent and US$2 per tonne or 0.07 per cent to settle at US$2,711.50 per tonne and US$2,712.50 per tonne.

On the same day, both December 25 bid price and December 25 offer price added US$3 per tonne or 0.10 per cent to clock at US$2,820 per tonne and US$2,825 per tonne. LME aluminium opening stock came in at 1116650 tonnes.

Live warrants and Cancelled warrants stood at 593875 tonnes and 522775 tonnes. LME aluminium 3-month Asian Reference Price dwindled by US$53.59 per tonne or 1.94 per cent to rest at US$2,704.50 per tonne.