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02 JUNE 2021 AL CIRCLE

LME aluminium benchmark price edged 2.37% higher to US$2461.50/t; SHFE fell by US$11/t to close at US$2925/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

LME aluminium benchmark price gained 2.37 per cent on Tuesday to close at US$ 2,461.50 per tonne. The price is expected to move between US$ $2,450-2,520 per tonne.

LME aluminium benchmark price edged 2.37% higher to US$2461.50/t

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On Tuesday, June 1, LME aluminium cash (bid) price and LME official settlement price soared by US$ 57 per tonne to settle at US$ 2,461.50 per tonne compared to US$ 2,404.50 per tonne on Friday, May 28. 3-months bid price and 3-months offer price came in at US$ 2,485 per tonne, up by US$ 51 per tonne from US$ 2,434 per tonne on May 28. Dec 22 bid price and Dec 22 offer price grew 1.97 per cent from US$ 2,438 per tonne to US$ 2,486 per tonne on June 1.

LME aluminium opening stock decreased from 1718300 tonnes on May 28 to 1707000 tonnes on June 1. Live Warrants totalled 1117375 tonnes, while Cancelled Warrants stood at 589625 tonnes.

LME aluminium 3-months Asian Reference Price increased from US$ 2,460.66 per tonne to US$ 2,495.58 per tonne on Tuesday, June 1.

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SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE decreased US$ 11 per tonne to come in at US$ 2,925 per tonne on Wednesday, June 2.

The most-liquid SHFE 2107 aluminium contract fell 0.72 per cent to settle at RMB 18,685 per tonne in the overnight trading, and is expected to trade between RMB 18,500-19,800 per tonne today. Spots are likely to be offered between discounts at RMB 30 per tonne and premiums at RMB 20 per tonne.

Tagged with:

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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