
The US dollar index rebounded for the first time in five trading days. LME aluminium and SHFE contracts registered smaller drops compared with other base metals when the US dollar rebounded overnight. LME aluminium contract closed a little higher at US$ 2127 per tonne yesterday.

As on August 30, LME aluminium cash (bid) price stands at US$ 2126 per tonne, LME official settlement price stands at US$ 2127 per tonne; 3-months bid price stands at US$ 2148.50 per tonne, 3-months offer price is US$ 2149 per tonne; Dec 19 bid price stands at US$ 2185 per tonne, and Dec 19 offer price stands at US$ 2190 per tonne.
The LME aluminium opening stock dropped to 1073050 tonnes. Live Warrants totalled at 781475 tonnes, and Cancelled Warrants were 291575 tonne.
LME aluminium 3-months Asian Reference Price is hovering at US$ 2165.71 per tonne.
SME and SHFE Aluminium Price Trend
The benchmark aluminium price on Shanghai Metal Exchange dropped to US$ 2161 per tonne on August 31, from US$ 2169 per tonne on August 30.
SHFE nonferrous metals closed mixed on Thursday August 30.The SHFE 1810 contract fell to an intraday low of RMB14,890 per tonne after it rebounded to RMB14,985 per tonne. SHFE aluminium ended the trading day 0.1% lower at RMB14,950 per tonne. Open interest for the SHFE aluminium complex grew 28,518 lots to 767,694 lots.
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