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19 NOVEMBER 2021 AL CIRCLE

LME aluminium price descends by US$20.5/t to settle at US$2,607.50/t; SHFE price soars up by US$9/t

EDITED BY : SARNALI CHAKRABORTY 2MINS READ

LME aluminium opened at US$2,610 per tonne on Thursday and closed at US$2,624 per tonne, an increase of US$15.5 per tonne or 0.59 percent.

LME aluminium price descends by US$20.5/t to settle at US$2,607.50/t; SHFE price soars up by US$9/t

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On Thursday, November 18, LME aluminium cash (bid) price dropped down by US$20 per tonne or by 0.76 percent to close at US$2,607 per tonne. For the same day, LME aluminium official settlement price also descended by US$20.5 per tonne or by 0.78 percent to total at US$2,607.50 per tonne. 3-month bid price and 3-month offer price totalled at US$ 2,595 per tonne and US$ 2,596 per tonne. December 22 bid price and December 22 offer price for the same was recorded at US$ 2,563 per tonne and US$ 2,568 per tonne.

On November 18, LME aluminium opening stock stood at 948650 tonnes. Live warrants and cancelled warrant totalled at 577750 tonnes and 370900 tonnes, respectively.

LME aluminium 3-month Asian Reference Price closed at US$ 2,683.50 per tonne, as of November 18.

SHFE Aluminium Price Trend

On Friday, November 19, the benchmark aluminium price for SHFE increased by US$9 per tonne to close at US$2,916 per tonne.

The most-traded SHFE 2201 aluminium closed up RMB 625 per tonne to RMB 19205 per tonne, with open interest down 8779 lots to 227450 lots.

Outlook For The Indian Aluminium Industry

Overnight, the most-traded SHFE 2201 aluminium contract opened at RMB 18,475 per tonne, with the highest and lowest prices at RMB 18,535 per tonne and RMB 18,230 per tonne before closing at RMB 18,470 per tonne, down RMB 110 per tonne.

Tagged with:

Price LME

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EDITED BY : SARNALI CHAKRABORTY 2MINS READ

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