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10 AUGUST 2020 AL CIRCLE

LME aluminium price edged higher at $1744/t on decreasing opening stock; SHFE stood lower at $2087/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium fell by 1.04 per cent to end at US$ 1,759.5 per tonne on Friday as the dollar index strengthened. Open interest added 2,430 lots to 802,000 lots as longs added positions. The contract is likely to trade between US $1,740-1,800 per tonne today.

LME aluminium price edged higher at $1744/t on decreasing opening stock

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As of Friday, August 7, both LME aluminium cash (bid) price and LME official settlement price stood at US$ 1744 per tonne, up by US$ 22 per tonne from to US$ 1722 per tonne on August 6. 3-months bid price and 3-months offer price rebounded to US$ 1780 per tonne, following a downfall of US$ 21.50 per tonne to US$ 1758.50 per tonne on the previous day. Dec 21 bid price and Dec 21 offer price came in at US$ 1858.50 per tonne.

The LME aluminium opening stock declined from 1632325 tonnes to 1626850 tonnes. Live Warrants hovered at 1374550 tonnes, while Cancelled Warrants at 252300 tonnes.

LME aluminium 3-months Asian Reference Price stood at US$ 1776.44 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE continued to decrease to stand at US$ 2087 per tonne on Monday, August 10, 2020.

Global Aluminium Industry - Key Trends 2030

The most-traded SHFE 2009 aluminium contract trended higher after falling to a session low of RMB 14,405 per tonne and edged 0.07 per cent firmer at RMB 14,555 per tonne today. Open interest of near-month contracts declined, while that of forward-month contracts increased.

The most-liquid SHFE 2009 aluminium contract edged just 0.07 per cent higher to close at RMB 14,500 per tonne on Friday night. It is expected to move between RMB 14,450-14,900 per tonne today, while spot premiums are seen at RMB 30-50 per tonne.

Tagged with:

Price LME Aluminium

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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