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
16 FEBRUARY 2017 AL CIRCLE

LME aluminium eases as dollar extends gains; Shanghai aluminium to stabilize, says SMM

EDITED BY : DIPANWITA GUPTA 2MINS READ

LME aluminium eased out after Wednesday's night trading shedding some earlier gains and closing at US$1,871 per tonne, down 1.16 per cent from the previous closing at US$1,893 per tonne on Tuesday. With the U.S. dollar index trading higher ahead of data, the dip was only but a natural outcome. However, Shanghai Metals Market (SMM) believes the contract will refresh new highs through the trading hours on Thursday, February 16 and will trade at US$1,905-1,935 per tonne.

As on February 15, LME official cash buyer price of aluminium stands at US$1,870.5 per tonne, cash seller & settlement price is US$1,871 per tonne, 3M buyer price is US$1,884 per tonne, 3M seller price is US$1,884.5 per tonne, Dec1 buyer price is US$1,928 per tonne, and Dec1 seller price is US$1,933 per tonne. The current LME official Opening Stock of aluminium is estimated at 2220775 tonnes, total Live Warrants is 1612725 tonnes, and Cancelled Warrant is 599275 tonnes.

News
In China, the benchmark price of aluminium on Shanghai Metal Exchange (SME) has edged up at US$2,067 per tonne on Thursday, up 0.43 per cent from Wednesday's price of US$2,058 per tonne.

Aluminium contracts traded on Shanghai Futures Exchange (SHFE) also came under moderate pressure from a rising dollar. SHFE 1704 aluminum opened at RMB 14,285 per tonne and ended at RMB 14,280 per tonne on Wednesday. SHFE 1702 aluminum closed at RMB 14,250 per tonne with settlement price at RMB 14,225 per tonne. SMM predicts SHFE 1704 aluminum will be traded at around RMB 14,500 per tonne in the short term due to increased inflow of capital in the Chinese aluminium market.

{googleAdsense}

Spot aluminium in China's domestic market is expected to trade at discounts of RMB 200-240 per tonne on Thursday.    

The US dollar index is expected to come down from its recent highs. This will render some relief to the Shanghai aluminium prices.

"The dollar fell back after advancing for several consecutive days, and this will ease pressures on base metal prices,"SMM says.

Tagged with:

Aluminium Price SMM LME

Adv
Adv
Adv
Adv
Adv
Adv
Adv
EDITED BY : DIPANWITA GUPTA 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.