LME aluminium price closed higher at US$2025.50/t; SHFE price decreased for the third day to US$2316/t
Benchmark aluminium price on the London Metal Exchange stood 0.87 per cent higher on Tuesday, January 12.
As of Tuesday, January 12, LME aluminium cash (bid) price and LME official settlement price surged by US$ 17.50 per tonne to US$ 2025.50 per tonne, following a plunge in the previous day from US$ 2029.50 per tonne to US$ 2008 per tonne. 3-months bid price and 3-months offer price stood at US$ 2025 per tonne, up by USS$ 15 per tonne. Dec 21 bid price and Dec 21 offer price rebounded to US$ 2099.50 per tonne.
The LME aluminium opening stock declined from 1305825 tonnes to 1298075 tonnes. Live Warrants totalled 1185150 tonnes, while Cancelled Warrants 112925 tonnes.
LME aluminium 3-months Asian Reference Price hovered at US$ 2010.88 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE continued to decrease for the third day in a row to stand at US$ 2316 per tonne on Wednesday, January 13, 2021.
Shanghai base metals mostly advanced in overnight trading, while aluminium fell 0.27 per cent. On Tuesday, January 12, SHFE aluminium benchmark price slipped by US$ 35 per tonne or 1.48 per cent to stand at US$ 2337 per tonne.
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