LME aluminium drops further on the last day of the year; SHFE remains closed

The US dollar index dipped below 97 as stocks traded higher after a week of price swings. LME base metals traded weak on Monday and aluminium dropped further. The SHFE was closed for the New Year's Day holiday. LME aluminium closed Monday’s trading at US$ 1869.50 per tonne, further down from Friday, December 28. The exchange will remain closed today for New Year’s Day holiday.  

As on December 31, LME aluminium cash (bid) price stood at US$ 1868.50 per tonne, LME official settlement price stands at US$ 1869.50 per tonne; 3-months bid price stands at US$ 1845.50 per tonne, 3-months offer price is US$ 1846 per tonne; Dec 19 bid price stands at US$ 1918 per tonne, and Dec 19 offer price stands at US$ 1923 per tonne.  

The LME aluminium opening stock increased slightly to 1267125 tonnes. Live Warrants totalled at 1026950 tonnes, and Cancelled Warrants were 240175 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1843 per tonne.

SME and SHFE Aluminium Price Trend

For New Year's Day, china market will remain closed from December 30, 2018 to January 1, 2019.