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19 DECEMBER 2020 AL CIRCLE

LME aluminium price edged higher this week by $6.5/t to settle at $2049/t; SHFE rose by $28/t to $2554/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Benchmark aluminium price on the London Metal Exchange rose by US$ 6.5 per tonne over the week to settle at US$ 2049 per tonne, as of Friday, December 18.

Both LME aluminium cash (bid) price and LME official settlement price edged higher this week during December 14-18 after swinging between US$ 2042.50 per tonne and US$ 2049 per tonne. Starting the week on Monday, December 14, at US$ 2042.50 per tonne, the prices shrank to US$ 2022 per tonne on Tuesday, December 15. On Wednesday, December 16, both LME aluminium cash (bid) price and LME official settlement price increased to US$ 2029 per tonne but then dipped by US$ 1 per tonne to US$ 2028 per tonne on Thursday, December 17. To end the week on a bullish note, the prices settled higher at US$ 2049 per tonne. So, over the week, LME aluminium cash (bid) price and LME official settlement price hiked by US$ 6.5 per tonne.

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LME aluminium price edged higher this week by $6.5/t to settle at $2049/t; SHFE rose by $28/t to $2554/t

3-months bid price and 3-months offer price increased from US$ 2054 per tonne on Monday, December 14, to US$ 2059.50 per tonne on Friday, December 18. In the interim, the prices decreased on Tuesday, December 15, to US$ 2038 per tonne, followed by a hike on Wednesday, December 16, to US$ 2045.50 per tonne. On December 17, they decreased again to US$ 2041 per tonne but rebounded on December 18 to US$ 2059.50 per tonne.

December 21 bid price and December 21 offer price, however, recorded a downfall from US$ 2082.50 per tonne on Monday, December 14, to US$ 2074 per tonne on Friday, December 18. The LME aluminium opening stock opened the week with a jump from 1329600 tonnes to 1357650 tonnes and further hiked on Wednesday to 1377225 tonnes; however, gradually decreased to 1367025 tonnes on Friday, December 18. Nonetheless, the stock stood higher over the week by 9375 tonnes.

AlCircleBiz

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE started the week on Monday, December 14, with a downfall from US$ 2559 per tonne on December 11 to US$ 2526 per tonne. The decline extended on Tuesday to US$ 2521 per tonne and then to US$ 2501 per tonne on Wednesday, December 16. On December 17 and 18, the price hiked to US$ 2512 per tonne and to US$ 2554 per tonne, respectively. Over the week, the SHFE price rose by US$ 28 per tonne.

Tagged with:

Price LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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