
Three-month LME aluminium rose 0.31 per cent to close at US$ 1,917 per tonne on Wednesday, November 11, with open interest rising to 749,000 lots. It is expected to trade between US$ 1,890-1,940 per tonne today.

Both LME aluminium cash (bid) price and LME official settlement price recorded a surge on Wednesday, November 11, from US$ 1880 per tonne to US$ 1905 per tonne following a downfall on the previous day. 3-months bid price and 3-months offer price stood at US$ 1923.50 per tonne, growing by US$ 23.50 per tonne from US$ 1900 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1964.50 per tonne versus US$ 1942.50 per tonne on Tuesday, November 10.
The LME aluminium opening stock further decreased further from 1425450 tonnes to 1419225 tonnes. Live Warrants hovered at 1246475 tonnes, while Cancelled Warrants 172750 tonnes.
LME aluminium 3-months Asian Reference Price stood at US$ 1915.77per tonne, as of November 11.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased for the second day in a row to stand at US$ 2339 per tonne on Thursday, November 12, 2020.
The most-traded SHFE 2012 aluminium contract trended higher today, ending 1.57 per cent firmer on the day at RMB 15,180 per tonne. It may break above RMB 15,500 per tonne in the near term.
The most-liquid SHFE 2012 aluminium contract added 0.2 per cent to settle at RMB 15,210 per tonne on Wednesday night, and is likely to trade between RMB 15,000-15,400 per tonne on Thursday.
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