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
26 APRIL 2018 AL CIRCLE

LME aluminium gains after a three-day losing streak; SHFE to stay range-bound

EDITED BY : BEETHIKA BISWAS 2MINS READ

After a three-day losing streak in the previous session, driven by the deadline extension to comply with U.S. sanctions on Rusal, LME aluminium contract finally saw some gain and closed at US$2248 per tonne on Wednesday April 25 from US$ 2222 per tonne on Tuesday April 24. 

The metal saw the seven-year high of $2,602.5 on April 19 in the wake of the sanctions, which left the market fearing a supply shortage. Three-month aluminium on the London Metal Exchange was down 1.3 per cent at $2,217 a tonne, as of 0219 GMT. LME aluminium slipped 1.3 per cent lower on Thursday morning. As seen by Shanghai Metals Market, LME aluminium would remain rangebound today with a trading range at $2,185-2,275/t.

{alcircleadd}

As on April 25, LME aluminium cash (bid) price stands at US$ 2,247 per tonne, LME official settlement price stands at US$ 2,248 per tonne; 3-months bid price stands at US$ 2238 per tonne, 3-months offer price is US$ 2239 per tonne; Dec 19 bid price stands at US$ 2233 per tonne, and Dec 19 offer price stands at US$ 2238 per tonne. 

The LME aluminium opening stock has dropped to 1372500 tonnes. Live Warrants totalled at 917650 tonnes, and Cancelled Warrants were 454850 tonne.

LME aluminium 3-months ABR price is hovering low at US$ 2198 per tonne. 

SME and SHFE Aluminium Price Trend

The benchmark aluminium price on Shanghai Metal Exchange slightly dropped from US$ 2288 per tonne on April 25 to US$ 2269 per tonne on April 26.

SHFE aluminium traded rangebound and closed at RMB 14,405 per tonne. As both longs and shorts were cautious, aluminium futures consolidated overnight. The SHFE 1806 contract initially fell to a low of RMB 14,355 per tonne as shorts entered the market and imposed pressure. It then regained some losses with support at the 60- and 20-day moving. SMM expects it to continue to test support and trade at RMB 14,300-14,500 per tonne today. Spot premiums are seen at RMB 30-70 per tonne. Due to uncertainties in the international market and pressure from domestic fundamentals, it is likely to remain range bound in the short term as investors adopt a cautious stance.

The US dollar index hit a three-month high and closed at 91.25 overnight. Base metals performed weakly under pressure.  Base metals are expected to see mixed trading in the short term with strong LME metals and weaker SHFE prices.

Tagged with:

Aluminium Price LME SMM

Adv
Adv
Adv
Adv
Adv
Adv
Adv
EDITED BY : BEETHIKA BISWAS 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.