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24 AUGUST 2020 AL CIRCLE

LME aluminium price decreases by $30/t after three consecutive rises, SHFE edges lower at $2115/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

The US dollar on Friday gained against the euro for the first week since mid-June after data showed a strong uptick in US business activity, while the single currency was held down as an August batch of European business surveys pointed to a stuttering economic recovery.

Three-month LME aluminium settled 0.84 per cent lower at US$ 1,768 per tonne on Friday.

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LME aluminium price decreases by $30/t after three consecutive rises

LME aluminium cash (bid) price and LME official settlement price decreased by US$ 30 per tonne to US$ 1722.50 per tonne, as of Friday, August 21, following three consecutive rises from US$ 1733 per tonne to US$ 1755.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 1761.50 per tonne, down by US$ 30 per tonne from US$ 1791.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1839.50 per tonne.

The LME aluminium opening stock declined to 1574100 tonne. Live Warrants hovered at 1355900 tonnes, while Cancelled Warrants at 218200 tonnes.

LME aluminium 3-months Asian Reference Price stood at US$ 1795.87 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE decreased to stand at US$ 2115 per tonne on Monday, August 24, following four consecutive rises from US$ 2077 per tonne to US$ 2144 per tonne.

Global Aluminium Industry - Key Trends to 2030

The most-liquid SHFE 2009 aluminium contract ended the day unchanged at RMB 14,710 per tonne. Open interest fell 336 lots to 113,000 lots. The shift of open interests and inventories of aluminium ingot next week will be monitored.

The most-liquid SHFE 2009 aluminium contract closed 1.52 per cent weaker at RMB 14,595 per tonne on Friday night. It is expected to move between RMB 14,550-14,700 per tonne today, while spot premiums are seen higher at RMB 60-80 per tonne.  

Tagged with:

Price Aluminium Inventory LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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