On Friday, May 24, the LME aluminium cash bid price and LME aluminium official settlement price surged by US$48 per tonne, or 1.88 per cent, to US$2,598 per tonne and US$2,599 per tonne, respectively.
As per the LME data, 3-month bid price and 3-month offer price also expanded by US$47 per tonne or 1.80 per cent and US$47.5 per tonne or 1.82 per cent to stand at US$2,649 per tonne and US$2,650 per tonne.
December 25 bid price and December 25 offer price gained US$48 per tonne or 1.76 per cent to halt at US$2,768 per tonne and US$2,773 per tonne.
LME aluminium opening stock came in at 1124700 tonnes. Live warrants and Cancelled warrants stood at 653400 tonnes and 471300 tonnes. LME aluminium 3-month Asian Reference Price moved up by US$2.13 per tonne or 0.08 per cent to arrive at US$2,618.10 per tonne.
Japanese aluminium buyers recently agreed to pay premium above $170/t for Q3 shipments
