
The US dollar, which measures the greenback against a basket its rivals, rose on Friday, LME base metals traded mixed on Friday. LME aluminium rose 1%.
Three-month LME aluminium hit an intraday high of US$1,829.5 per tonne on Friday. It ended the trading day 1.03% higher at US$1,819 per tonne. LME aluminium is likely to trade at US$1,800-1,830 per tonne.
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As on January 3, Friday, LME aluminium cash (bid) price stood at US$ 1757 per tonne, LME official settlement price stands at US$ 1758 per tonne; 3-months bid price stands at US$ 1792 per tonne, 3-months offer price is US$ 1794 per tonne; Dec 20 bid price stands at US$ 1925 per tonne, and Dec 20 offer price stands at US$ 1930 per tonne.
The LME aluminium opening stock stood at 1470925 tonnes. Live Warrants totalled at 909300 tonnes, and Cancelled Warrants were 561625 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1796.35 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE (Shanghai Future Exchange) increased to US$2068 per tonne on Monday, 06 January 2020.
The most traded SHFE 2002 contract closed 0.18% lower at RMB14,085 per tonne on Friday. The contract climbed to a session-high of RMB14,150 per tonne on Friday night, before it eased to close 0.86% firmer at RMB14,135 per tonne. It is likely to trade at RMB14,000-14,200 per tonne today, with spot premiums at RMB100-180 per tonne over the SHFE 2001 contract.
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