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16 MARCH 2020 AL CIRCLE

LME aluminium closed the week higher on weak dollar; SHFE aluminium gained 0.4%

EDITED BY : HEENA IQBAL 2MINS READ

The dollar fell against a broad range of currencies on Friday, 13 March. LME base metals rallied to close mostly higher on Friday. LME aluminium rose 1.7%.

Three-month LME aluminium rose past the US$1,700 per tonne mark before erasing some gains to end at US$1,690 per tonne. Shanghai Metals Market expects the contract to trade at US$1,670-1,710 per tonne today.

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ALUMINIUM

As on Friday March 13, LME aluminium cash (bid) price stands at US$ 1676.5 per tonne, LME official settlement price stands at US$ 1677 per tonne; 3-months bid price stands at US$ 1695 per tonne, 3-months offer price is US$ 1696 per tonne; Dec 21 bid price stands at US$ 1798 per tonne, and Dec 21 offer price stands at US$ 1803 per tonne.

The LME aluminium opening stock dropped to 987175 tonnes. Live Warrants totalled 797800 tonnes, and Cancelled Warrants were 189375 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1667.39 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE increased from US$1810 per tonne to US$1828 per tonne on Monday, 16 March 2020.

aluminium

The most-active SHFE 2005 contract rebounded swiftly in early afternoon trade, returning above RMB13,000 per tonne, before it eased to end at RMB12,920 per tonne. The contract is likely to move between RMB12,800-13,100 per tonne.

Tagged with:

Aluminium Price LME

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EDITED BY : HEENA IQBAL 2MINS READ

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