Adv
LANGUAGES
English
Hindi
Spanish
French
German
Chinese_Simplified
Chinese_Traditional
Japanese
Russian
Arabic
Portuguese
Bengali
Italian
Dutch
Greek
Korean
Turkish
Vietnamese
Hebrew
Polish
Ukrainian
Indonesian
Thai
Swedish
Romanian
Hungarian
Czech
Finnish
Danish
Filipino
Malay
Swahili
Tamil
Telugu
Gujarati
Marathi
Kannada
Malayalam
Punjabi
Urdu
06 JULY 2018 AL CIRCLE

LME aluminium closed slightly higher; SHFE plummeted to a new low of RMB13,940/t

EDITED BY : HEENA IQBAL 2MINS READ

The US dollar dipped to a three-week low ahead of the tariffs on $34 billion of Chinese imports. Base metals mostly ceased their downward trend but remained weak. Benchmark aluminium price on London Metal Exchange increased to close at US$2127 per tonne on Thursday, July 5. After touching a high of US$2,112 per tonne during night trading, LME aluminium fell to a low of US$2,077.5 per tonne today morning with pressure from the five-day moving average. SMM expects the contract to trade at US$2,070-2,110 per tonne today.

{alcircleadd}

As on July 5, LME aluminium cash (bid) price stands at US$ 2126 per tonne, LME official settlement price stands at US$ 2127 per tonne; 3-months bid price stands at US$ 2100 per tonne, 3-months offer price is US$ 2101 per tonne; Dec 19 bid price stands at US$ 2138 per tonne, and Dec 19 offer price stands at US$ 2143 per tonne.

The LME aluminium opening stock increased to 1106600 tonnes. Live Warrants totalled at 920075 tonnes, and Cancelled Warrants were 186525 tonne.

LME aluminium 3-months Asian Reference Price is hovering at US$ 2082.46 per tonne.

SME and SHFE Aluminium Price Trend

The benchmark aluminium price on Shanghai Metal Exchange increased to US$ 2091 per tonne on July 6 from US$ 2189 per tonne on July 5.

The SHFE 1809 contract plummeted to a new low of RMB13,940 per tonne  yesterday after a high of RMB14,110 per tonne in the morning session.

The SHFE 1809 contract closed at RMB14,060 per tonne today morning. The contract is expected to trade at RMB13,940-14,140 per tonne today with spot discounts at RMB50-10 per tonne. SMM expects it to remain weakly rangebound in the short term. SMM will monitor the impact from the alumina production cut in Shanxi.

Key factors to watch today include the US non-farm employment data in June and its trade balance in May. 

Tagged with:

Aluminium Price LME SMM China

Adv
Adv
Adv
Adv
Adv
Adv
Adv
EDITED BY : HEENA IQBAL 2MINS READ

Responses

Adv
Adv
Adv
Loading...
Adv
Adv
Adv
Loading...
Reports VIEW ALL
Loading...
Loading...
Business Leads VIEW ON AL BIZ
Loading...
Adv
Adv
Would you like to be
featured with us?
Loading...

AL Circle: Aluminium Ecosystem App

A proud
ASI member
© 2026 AL Circle. All rights reserved. AL Circle is not responsible for content from external sources.