
The US dollar held steady against a basket its rivals on Monday. LME aluminium shed 0.8% and SHFE aluminium sank 0.3%.
LME aluminium closed Monday’s trading at US$ 1766.5 per tonne, down 0.31% from Friday. Three-month LME aluminium retreated to its lowest in more than a week at US$1,788.5 per tonne in European trading hours, before it recovered some ground to close the trading day 0.77% weaker at US$1,798 per tonne. LME aluminium is expected to trade between US$1,780-1,810 per tonne today.
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As on Monday January 13, LME aluminium cash (bid) price stands at US$ 1766 per tonne, LME official settlement price stands at US$ 1766.5 per tonne; 3-months bid price stands at US$ 1792 per tonne, 3-months offer price is US$ 1793 per tonne; Dec 20 bid price stands at US$ 1928 per tonne, and Dec 20 offer price stands at US$ 1933 per tonne.
The LME aluminium opening stock stood at 1396550 tonnes. Live Warrants totalled at 797175 tonnes, and Cancelled Warrants were 599375 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1803.37per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE (Shanghai Future Exchange) still the same at US$2099 per tonne on Tuesday, 14 January 2020.
The most-traded 2003 contract slipped to a session low of RMB13,930 per tonne before ended at RMB13,960 per tonne, down 0.78% on the day. The most traded SHFE 2003 contract ended RMB13,960 per tonne, down 0.32% in overnight trading session. The contract is likely to move at RMB13,900-14,100 per tonne today, with spot discounts at RMB100-80 per tonne over the SHFE 2001 contract.
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