Weekly SHFE and LME Aluminium Price Review (Apr 10-14, 2023)

SHANGHAI, Apr 17 (SMM) - The most-traded SHFE 2305 aluminium contract opened at 18,735 yuan/mt last Monday, with its weekly low and high at 18,350 yuan/mt and 18,780 yuan/mt respectively before closing at 18,725 yuan/mt as of CST 15:00 on Friday, up 35 yuan/mt or 0.19% on the week. The initial drop was due to macro headwinds, and the subsequent rebound was driven by improving macro sentiment.

The LME was closed last Monday for Easter holiday. LME aluminium opened at $2,337.5/mt last Tuesday, with its weekly low and high at $2,290.5/mt and $2,392/mt respectively before trading at $2,384.5/mt as of CST 15:00 on Friday, up $47/mt or 2.01% on the week.