LME aluminium closed lower on Friday, expected to trade between $1,830-1,870/t

LME aluminium contract closed at US$ 1,832 per tonne on Friday, April 26, down from US$1,852 per tonne on Thursday, April 25. The contract is expected to trade between $1,830-1,870 per tonne today.

As on April 26, LME aluminium cash (bid) price stood at US$ 1831.50 per tonne, LME official settlement price stands at US$ 1832 per tonne; 3-months bid price stands at US$ 1848 per tonne, 3-months offer price is US$ 1849 per tonne; Dec 20 bid price stands at US$ 1972 per tonne, and Dec 20 offer price stands at US$ 1977 per tonne.  

The LME aluminium opening stock stood at 1020875 tonnes. Live Warrants totalled at 642100 tonnes, and Cancelled Warrants were 378775 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1862.79 per tonne.

SME and SHFE Aluminium Price Trend

The benchmark aluminium price on Shanghai Metal Exchange dropped to US$ 2104 per tonne today from US$ 2110 per tonne on April 26. 

SHFE nonferrous metals ended mixed on Friday April 26. SHFE aluminium lost 0.28%. Longs bolstered the most-active SHFE June contract to a high of RMB14,250 per tonne after opening. The contract hit a low of RMB14,155 per tonne and ended at RMB14,185 per tonne on Friday.

Shanghai Metals Market expects the contract to trade at RMB14,100-14,200 per tonne today. Spot prices are seen at a discount of RMB30 per tonne to a premium of RMB10 per tonne.