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
05 SEPTEMBER 2017 AL CIRCLE

LME aluminium plummets after crude oil prices edge higher; further drop likely

EDITED BY : DIPANWITA GUPTA 2MINS READ

LME aluminium declined sharply after the U.S. Labour Day weekend, as U.S. crude prices rose on returning refineries. The light metal contract, which ended last week Friday at US$2,113.50 per tonne, came down to settle at US$2,095.50 per tonne on Monday, September 4. Reuters’ technical analysis suggests that LME aluminium may break an important support at US$2,103 per tonne, and fall further to the US$2,081-2,089 per tonne range on Tuesday, September 5.

According to Shanghai Metals Market forecast, LME aluminium will draw support from the 5-day moving average and move within the range of US$2,105-2,130 per tonne on Tuesday, September 5.

{alcircleadd}

As on September 4, LME official cash buyer aluminium price (Bid Price) stands at US$2,095 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,095.50 per tonne, 3M Bid Price is US$2,119 per tonne, 3M Offer Price is US$2,120 per tonne, Dec3 Bid Price is US$2,230 per tonne, and Dec3 Offer Price is US$2,235 per tonne. LME aluminium Opening Stock stands at 1324625 tonnes, total Live Warrants is 1149200 tonnes, and Cancelled Warrant is 175425 tonnes.

SME and SHFE Aluminium Price Trend

The benchmark aluminium price at Shanghai Metal Exchange (SME) has come down from US$2,506 per tonne on Monday, September 4, to US$2,475 per tonne on Tuesday, September 5.

At Shanghai Futures Exchange, base metals witnessed mixed trading with the LME market performing slightly better, on Monday, September 4. SMM predicts that the most active aluminium contract SHFE 1711 aluminium will hover around RMB 16,500-16,700 per tonne on Tuesday, September 5.

In east China spot aluminium market, spot discounts over SHFE 1709 aluminium are expected to range at RMB 260-220 per tonne on Tuesday.  

The market focus will be on the U.S. dollar index movement, Caixin China August service PMI, Euro zone July retail sales and US July durable goods orders on Tuesday, September 5, SMM said.   

Tagged with:

Aluminium Price LME SMM

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.