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
17 JUNE 2019 AL CIRCLE

Both LME and SHFE aluminium fell below moving average on Friday night; likely to trade lower today

EDITED BY : BEETHIKA BISWAS 2MINS READ

The dollar index surged on Friday as encouraging US retail sales data for May eased fears of a slowing economy. With weak manufacturing and investment data from China, LME base metals closed lower on Friday, with the biggest loss of 1.6% in aluminium. SHFE base metals also traded lower and aluminium shed 0.5%.

A stronger US dollar lowered three-month LME aluminium below all short-term moving averages to close at an intraday low of US$1,758 per tonne on Friday night. It lost all earlier gains to conclude in a weekly decline. LME aluminium is expected to trade between US$1,750-1,830 per tonne today.

{alcircleadd}

As on June 14, Friday, LME aluminium cash (bid) price stood at US$ 1737 per tonne, LME official settlement price stands at US$ 1737.50 per tonne; 3-months bid price stands at US$ 1770 per tonne, 3-months offer price is US$ 1771 per tonne; Dec 20 bid price stands at US$ 1888 per tonne, and Dec 20 offer price stands at US$ 1893 per tonne.

The LME aluminium opening stock dropped to 1064625 tonnes. Live Warrants totalled at 681550 tonnes, and Cancelled Warrants were 383075 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1778 per tonne.

SME and SHFE Aluminium Price Trend

The benchmark aluminium price on Shanghai Metal Exchange (SME) also dropped to US$ 2002 per tonne today from US$ 2010 per tonne on Friday.

The most-traded SHFE August contract lost all the gains from the previous day as a considerable increase in short positions dragged it to the lowest in three trading days, at RMB13,880 per tonne on Friday. The contract fell 0.32% on the day at RMB13,910 per tonne. On Friday night, a build-up of short positions lowered the SHFE August contract to the lowest since April 9 and finally it closed the session 0.47% lower at RMB 13,855 per tonne, failing to recover from earlier losses. SHFE aluminium is expected to trade between RMB13,800-14,100 per tonne today, with spot premiums of up to RMB 20 per tonne.

Tagged with:

Aluminium Price LME China Market

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.