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18 JUNE 2018 AL CIRCLE

LME aluminium on a downtrend on stronger US dollar; SHFE remains closed on Dragon Boat Festival

EDITED BY : BEETHIKA BISWAS 1MINS READ

LME aluminium, which hit its weakest in seven weeks at $2,200.50 a tonne on Friday, recaptured the 100-day moving average as it traded at US$2215. The contract closed at US$2239.50 per tonne on Friday. Pressure from a stronger dollar pushed the contract down and a holiday in China drained buying interest from the market.

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As on June 15, LME aluminium cash (bid) price stands at US$ 2238.50per tonne, LME official settlement price stands at US$ 2239.50per tonne; 3-months bid price stands at US$ 2231 per tonne, 3-months offer price is US$ 2233 per tonne; Dec 19 bid price stands at US$ 2245 per tonne, and Dec 19 offer price stands at US$ 2250 per tonne.

The LME aluminium opening stock slightly dropped to 1142600 tonnes. Live Warrants totalled at 920850 tonnes, and Cancelled Warrants were 221750 tonne.

LME aluminium 3-months ABR price is hovering at US$ 2239 per tonne.

The Shanghai Futures Exchange is closed on closes from Saturday, June 16, 2018 to Monday, June 18, 2018 on the occasion of Dragon Boat Festival.  There was no continuous trading on the Friday night of June 15, 2018. 

 

 

Tagged with:

Aluminium Price LME China Market

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EDITED BY : BEETHIKA BISWAS 1MINS READ

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