
The US dollar rose against a basket of currencies last week, taking the index to a five-week high of 96.7. LME base metals traded mixed last week. Benchmark aluminium price on London Metal Exchange edged higher on Friday, February 8.
The light metal contract closed at US$1865 per tonne, up 0.13 per cent from US$1862.5 per tonne on Thursday, February 7. LME aluminium is expected to trade at US$1870-1900 per tonne today.
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As on February 8, LME aluminium cash (bid) price stood at US$ 1864.50 per tonne, LME official settlement price stands at US$ 1865 per tonne; 3-months bid price stands at US$ 1889 per tonne, 3-months offer price is US$ 1889.50 per tonne; Dec 19 bid price stands at US$ 2020 per tonne, and Dec 19 offer price stands at US$ 2025 per tonne.
The LME aluminium opening stock stood at 1296800 tonnes. Live Warrants totalled at 679475tonnes, and Cancelled Warrants were 617325 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1887.48 per tonne.
SME and SHFE Aluminium Price Trend
Shanghai Metal Exchange resumed trading today after the week-long Chinese New Year break. The benchmark SME aluminium price stands at US$ 1989 per tonne today.
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