
With the biggest number of US jobs created in 11 months for January and a rebound in US manufacturing, the US dollar index held stable on Friday. Mild wage inflation, shown in the US nonfarm payrolls, kept the dollar's gains in check. LME base metals traded mixed on Friday. LME aluminium dropped 1.7%.
Benchmark aluminium price on London Metal Exchange dropped to close at US$ 1872.5 tonne on Friday, February 1.
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As on February 1, LME aluminium cash (bid) price stood at US$ 1871.50 per tonne, LME official settlement price stands at US$ 1872.50per tonne; 3-months bid price stands at US$ 1892.50 per tonne, 3-months offer price is US$ 1893 per tonne; Dec 19 bid price stands at US$ 2037 per tonne, and Dec 19 offer price stands at US$ 2042 per tonne.
The LME aluminium opening stock decreased to 1284125 tonnes. Live Warrants totalled at 754650 tonnes, and Cancelled Warrants were 529475 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1905.50 per tonne.
SME and SHFE Aluminium Price Trend
Shanghai Futures Exchange is closed for China’s Lunar New Year Holiday. Trading will resume on Monday, February 11.
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