LME aluminium price dips by $2/t but stands 1% higher M-o-M; SHFE market resumes after CNY with a 0.5% price fall

However, on a week-on-week basis, the LME aluminium benchmark price stood US$22.50 per tonne or 1.03 per cent higher than US$2,180.50 per tonne, and on a month-on-month calculation, edged a hike of US$ 44.50 per tonne or 2.06 per cent from US$2,158.50 per tonne. 

On the same day, 3-month bid price and 3-month offer price grew by US$4.50 per tonne and US$6 per tonne to close the week at US$2,230 per tonne and US$2,232 per tonne, respectively. Both December 25 bid price and December 25 offer price increased by US$7 per tonne to stand at US$2,452 per tonne and US$2,457 per tonne. 

LME aluminium opening stock price amounted to 534,925 tonnes on February 16, down by 0.59 per cent from 538,075 tonnes on February 15. Live Warrants and Cancelled Warrants closed at 534,925 tonnes and 195450 tonnes on February 16.

LME aluminium 3-month Asian Reference Price settled at US$2,223.70 per tonne on February 16 versus US$2,240.36 per tonne on February 15.