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06 NOVEMBER 2020 AL CIRCLE

LME aluminium price closed higher at $1885.5/t amidst decreasing opening stock; SHFE climbed to $2263/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium fell 0.84 per cent to close at US$ 1,892.50 per tonne on Thursday, November 5, with open interest rising to 748,000 lots. It is expected to trade between US$ 1,870-1,910 per tonne today, November 6. 

LME aluminium price closed higher at $1885.5/t amidst decreasing opening stock; SHFE climbed to $2263/t

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LME aluminium cash (bid) price and LME official settlement price increased from US$ 1,877 per tonne to US$ 1,885.50 per tonne on Thursday, November 5, following a downfall on the previous day. 3-months bid price and 3-months offer price stood at US$ 1,896 per tonne, growing by US$ 10.50 per tonne from US$ 1,885.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1,938.50 per tonne versus US$ 1924 per tonne on November 4

The LME aluminium opening stock decreased from 1450025 tonnes to 1443950 tonnes. Live Warrants hovered at 1220375 tonnes, while Cancelled Warrants 223575 tonnes.

LME aluminium 3-months Asian Reference Price hovered at US$ 1902.04 per tonne, as of November 5.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE grew for the second day in a row to stand at US$ 2263 per tonne on Friday, November 6, 2020.

Global Bauxite Industry Insights

The most-traded SHFE 2012 aluminium contract finished the day 0.44 per cent higher at RMB 14,850 per tonne, with trading volume declining 48,763 lots to 87,249 lots. Macro uncertainties exacerbated volatility, and the contract is likely to fluctuate at highs in the short term.  

The most-liquid SHFE 2012 aluminium contract slid 0.3 per cent to settle at RMB 14,805 per tonne on Thursday night, and is likely to trade between RMB 14,700-15,000 per tonne on Friday.

Tagged with:

Price LME Aluminium

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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