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08 FEBRUARY 2021 AL CIRCLE

LME aluminium price edged higher to settle at US$2007.50/t; SHFE rose for the third day in a row to US$2427/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium advanced 1.23 per cent to settle at US$ 2,019 per tonne last Friday, February 5, with open interest decreasing 3,086 lots to 725,000 lots.

LME aluminium price edged higher to settle at US$2007.50/t; SHFE rose for the third day in a row to US$2427/t

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LME aluminium cash (bid) price and LME official settlement price continued to grow to close the last week ending on Friday, January 5, at US$ 2007.50 per tonne. This recorded the third consecutive day of hike by US$ 28 per tonne from the previous day’s price of US$ 1979.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 2012 per tonne, also up by US$ 28 per tonne from US$ 1984 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2090 per tonne.

The LME aluminium opening stock decreased from 1415125 tonnes on February 4 to 1406525 tonnes on February 5. Live Warrants totalled 1173400 tonnes, while Cancelled Warrants stood at 233125 tonnes.

LME aluminium 3-months Asian Reference Price hovered around US$ 2002 per tonne.

Global Aluminium Industry Outlook 2021

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE again surged for the third day in a row, albeit lower than the previous day, by US$ 20 per tonne to open the week on Monday, February 8, at US$ 2427 per tonne.

The most-liquid SHFE 2103 aluminium contract gained 1.65 per cent to close at RMB 15,710 per tonne last Friday night. It is expected to move between RMB 15,300-15,800 per tonne today.

Tagged with:

Price LME Aluminium

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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