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19 DECEMBER 2017 AL CIRCLE

LME aluminium climbs higher; further headway expected

EDITED BY : DIPANWITA GUPTA 2MINS READ

LME aluminium has resumed its uptrend. The light metal contract having risen from US$2,036 per tonne on Friday, December 15, closed at US$2,047 on Monday, December 18 amid positive market fundamentals. Current price trend analysis suggests that LME aluminium will rise further. It is expected to range at US$2,060-2,090 per tonne on Tuesday, December 19.

LME Aluminium

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As on December 18, LME official cash buyer aluminium price (Bid Price) stands at US$2,046.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,047.50 per tonne, 3M Bid Price is US$2,066 per tonne, 3M Offer Price is US$2,068 per tonne, Dec1 Bid Price is US$2,110 per tonne, and Dec1 Offer Price is US$2,115 per tonne. LME aluminium Opening Stock or the LME aluminium inventory level stands at 1105900 tonnes, total Live Warrants is 889600 tonnes, and Cancelled Warrant is 216300 tonnes.

SME and SHFE Aluminium price trend

The benchmark aluminium price at Shanghai Metal Exchange (SME) has risen from US$2,127 per tonne on Monday, December 18, to US$2,146 per tonne on Tuesday, December 19.

The price movement of main aluminium contract on Shanghai Futures Exchange (SHFE) today as updated by Shanghai Metals Market (SMM) is as follows:

SHFE Aluminium

SHFE aluminium is expected to be range-bound at the 20-day moving average at around RMB 14,000 per tonne on today, SMM said. Spot discount will remain at RMB 230-190 per tonne.

Tagged with:

LME Price Inventory Aluminium

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EDITED BY : DIPANWITA GUPTA 2MINS READ

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