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29 OCTOBER 2020 AL CIRCLE

LME aluminium price closed $7/t lower at $1801/t; SHFE plunged for the third day in a row to $2158/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium closed 0.52 per cent lower at US$ 1,811.5 per tonne on Wednesday, October 28, after hitting its lowest in nearly three weeks at US$ 1,802.50 per tonne earlier in the session. It is expected to trade between US$ 1,800-1,840 per tonne today.

LME aluminium price closed $7/t lower at $1801/t; SHFE plunged for the third day in a row to $2158/t

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LME aluminium cash (bid) price and LME official settlement price extended decline from US$ 1808 per tonne to US$ 1801 per tonne, as of Wednesday, October 28. 3-months bid price and 3-months offer price stood at US$ 1815 per tonne, down by US$ 8 per tonne from US$ 1823 per tonne. Dec 21 bid price and Dec 21 offer price also decreased from US$ 1873.50 per tonne to US$ 1865 per tonne.

The LME aluminium opening stock hovered at 1466325 tonnes. Live Warrants stood at 1216650 tonnes, while Cancelled Warrants at 249675 tonnes.

LME aluminium 3-months Asian Reference Price came in at US$ 1818.59 per tonne, as of October 28.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE decreased for the third consecutive day to stand at US$ 2158 per tonne on Thursday, October 29, 2020.

Global Bauxite Industry Insights

The most-liquid SHFE 2011 aluminium contract closed down 1.15 per cent at RMB 14,585 per tonne. Open interest fell 15,680 lots to 84,940 lots.

The most-active SHFE 2011 aluminium contract declined 0.9 per cent to end at RMB 14,285 per tonne in overnight trading, and is likely to fluctuate between RMB 14,100-14,500 per tonne today.

Tagged with:

Price LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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