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05 APRIL 2019 AL CIRCLE

LME aluminium closed higher at US$1872 per tonne yesterday on anticipation of US-China trade deal; SHFE remains close

EDITED BY : BEETHIKA BISWAS 2MINS READ

The US dollar index recovered and settled at 97.3. Most London industrial metals rose on Friday, supported by news that the United States and China are edging closer to a trade deal after months of dispute.Three months LME aluminium traded down 0.2% at $1,892 a tonne yesterday and then rose 0.5 per cent overnight.

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As on April 4, LME aluminium cash (bid) price stood at US$ 1871 per tonne, LME official settlement price stands at US$ 1872 per tonne; 3-months bid price stands at US$ 1892 per tonne, 3-months offer price is US$ 1892.50 per tonne; Dec 20 bid price stands at US$ 2017 per tonne, and Dec 20 offer price stands at US$ 2022 per tonne. 

The LME aluminium opening stock dropped to 1110275 tonnes. Live Warrants totalled at 730550 tonnes, and Cancelled Warrants were 379725 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1894 per tonne.

SME and SHFE Aluminium Price Trend

SMM offices will remain close from Friday April 5 to Sunday April 7 for the Qingming Festival. There will be no price update during this period. The benchmark aluminium price on Shanghai Metal Exchange stood at US$ 2055 per tonne yesterday.

The most-liquid SHFE May contract climbed to an intraday high of RMB 13,845 yesterday after SMM data showed that China’s social inventories of primary aluminium lost RMB 37,000 per tonnes on the week. The contract returned to the daily moving average and ended at RMB 13,805 per tonnes.

 

 

Tagged with:

LME Price China SMM

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EDITED BY : BEETHIKA BISWAS 2MINS READ

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