
LME aluminium held fairly steady at its current level sliding marginally from US$2,143 per tonne on Monday, October 30 to US$2,140 per tonne on Tuesday, October 31. The wave pattern of aluminium prices on LME reveals a support at US$2,148 per tonne. A break below this level could cause a loss to US$2,125 per tonne in the near term.
As per voting results of the present participants in LME Week, aluminium accounted for 20 per cent of the votes as the most promising metal which will see a price rise in 2018, SMM reported.
{alcircleadd}
As on October 31, LME official cash buyer aluminium price (Bid Price) stands at US$2,139.50 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,140 per tonne, 3M Bid Price is US$2,156 per tonne, 3M Offer Price is US$2,157 per tonne, Dec1 Bid Price is US$2,200 per tonne, and Dec1 Offer Price is US$2,205 per tonne. LME aluminium Opening Stock or the LME aluminium inventory level stands at 1188700 tonnes, total Live Warrants is 943400 tonnes, and Cancelled Warrant is 245300 tonnes.
SME and SHFE Aluminium Price Trend
The benchmark aluminium price on Shanghai Metal Exchange has inched up from US$2,427 per tonne on October 31, to US$2,434 per tonne on November 1.
The most active aluminium contract on Shanghai Futures Exchange, SHFE 1712 aluminium opened at RMB 16,185 per tonne on Wednesday, November 1, after closing at RMB 16,285 per tonne on Tuesday.
The latest SHFE aluminium price movement is as follows:

Source: www.shfe.com.cn/en/products/Aluminum/
SHFE aluminium is expected to trade within a wide range in the near term.
Responses







