Adv
LANGUAGES
English
Hindi
Spanish
French
German
Chinese_Simplified
Chinese_Traditional
Japanese
Russian
Arabic
Portuguese
Bengali
Italian
Dutch
Greek
Korean
Turkish
Vietnamese
Hebrew
Polish
Ukrainian
Indonesian
Thai
Swedish
Romanian
Hungarian
Czech
Finnish
Danish
Filipino
Malay
Swahili
Tamil
Telugu
Gujarati
Marathi
Kannada
Malayalam
Punjabi
Urdu
01 AUGUST 2019 AL CIRCLE

A rising dollar took a toll on LME and SHFE aluminium prices on Wednesday; likely to close lower today

EDITED BY : BEETHIKA BISWAS 2MINS READ

The US dollar sharply rose on Wednesday, hitting a two-year high against a basket of other currencies and the index gained 0.5% to end at 98.554. LME base metals closed mixed on Wednesday. LME aluminium lost close to 0.3% and SHFE base aluminium slipped 0.2%.

LME price graph

{alcircleadd}

The stronger greenback took a toll on aluminium prices on Wednesday during the day’s trading and overnight. During the day, LME cash contract closed lower at US$ 1781.50 per tonne and three months aluminium closed at US$ 1806.50 per tonne.  Three-month LME aluminium erased earlier gains overnight to close 0.25% lower at US$1,799 per tonne on Wednesday.

As on July 31, Wednesday, LME aluminium cash (bid) price stood at US$ 1776 per tonne, LME official settlement price stands at US$ 1776.50 per tonne; 3-months bid price stands at US$ 1806 per tonne, 3-months offer price is US$ 1807 per tonne; Dec 20 bid price stands at US$ 1908 per tonne, and Dec 20 offer price stands at US$ 1913 per tonne.

The LME aluminium opening stock increased to 1028875 tonnes yesterday. Live Warrants totalled at 780125 tonnes, and Cancelled Warrants were 248750 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1805 per tonne.

SME and SHFE Aluminium Price Trend

The benchmark aluminium price on Shanghai Metal Exchange (SME) decreased to US$ 2010 per tonne today from US$ 2024 per tonne on Wednesday.

red mud

The most traded SHFE September contract shed 0.1% during day’s trading yesterday and declined further by 0.18% to end at RMB 13,885 per tonne overnight. Alumina supply cuts and an anticipated pick-up in consumption in September are likely drive shorts to cover positions after some downward correction in SHFE aluminium, which will limit declines in prices. SHFE aluminium is expected to trade between RMB 13,800-13,900 per tonne today, with spot prices in a discount of RMB 20 per tonne and a premium of 20 per tonne.

Tagged with:

Aluminium Price LME

Adv
Adv
Adv
Adv
Adv
Adv
Adv
EDITED BY : BEETHIKA BISWAS 2MINS READ

Responses

Adv
Adv
Adv
Loading...
Adv
Adv
Adv
Loading...
Reports VIEW ALL
Loading...
Loading...
Business Leads VIEW ON AL BIZ
Loading...
Adv
Adv
Would you like to be
featured with us?
Loading...

AL Circle: Aluminium Ecosystem App

A proud
ASI member
© 2026 AL Circle. All rights reserved. AL Circle is not responsible for content from external sources.