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16 OCTOBER 2021 AL CIRCLE

LME aluminium price closes at a new milestone this week at US$3163/t; SHFE price settles at US$3657/t

EDITED BY : DEBANJALI SENGUPTA 1MINS READ

The LME aluminium benchmark price opened the week on Monday, October 11, at a new milestone of US$3,020 per tonne, a sharp increase of US$118 per tonne from the previous day. The price continued to grow throughout the week to end at US$3,163 per tonne on Friday, October 15. During October 12-14, the LME aluminium price trended up from US$3,052 per tonne to US$3,152 per tonne.

Weekly LME & SHFE Price

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3-month bid price and 3-month offer price jumped from US$3,033 per tonne and US$3,034 per tonne on Monday to US$3,185 per tonne on Friday, October 15. December 22 bid price and December 22 offer price climbed from US$2,903 per tonne and US$2,908 per tonne to US$3,013 per tonne and US$3,018 per tonne.

LME aluminium opening stock decreased from 1150225 tonnes to 1118325 tonnes through the week.

Outlook for the Indian Aluminium Industry

SHFE Aluminium Price Trend

Benchmark aluminium for SHFE also rose this week, with an intermittent decrease on October 14. On Monday, October 11, SHFE aluminium price stood at US$3,576 per tonne, which grew the next day to US$3,611 per tonne. The price further increased on Wednesday to US$3,669 per tonne but declined on Thursday to US$3,603 per tonne. On Friday, October 15, SHFE aluminium price rose to US$3,657 per tonne.

Tagged with:

Price LME

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EDITED BY : DEBANJALI SENGUPTA 1MINS READ

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