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13 NOVEMBER 2021 AL CIRCLE

LME aluminium price ends the week higher at US$2676/t; SHFE price surges by US$71/t to exceed US$3000/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

LME aluminium cash (bid) price and LME official settlement price opened this week on Monday, November 8, at US$2,530 per tonne and US$2,530.50 per tonne, respectively, growing by US$40 per tonne or 1.61 per cent from the previous day. On Tuesday, November 9, they grew further to settle at US$2,581 per tonne and US$2,582 per tonne.

LME aluminium price ends the week higher at US$2676/t; SHFE price surges by US$71/t to exceed US$3000/t

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However, on the next day, the prices decreased by US$28 per tonne to settle at US$2,553 per tonne and US$2,554 per tonne, but again rose on Thursday, November 11, by US$92 per tonne and US$91.50 per tonne to close at US$2,645 per tonne and US$2,645.50 per tonne. On Friday, LME aluminium cash (bid) price and LME official settlement price closed the week at US$2,675 per tonne and US$2,676 per tonne.

3-month bid price and 3-month offer price started the week at US$2,557 per tonne and US$2,558 per tonne and closed higher at US$2,677 per tonne and US$2,679 per tonne on November 12. December 22 bid price and December 22 offer price ranged from US$2,542 per tonne and US$2,547 per tonne to US$2,633 per tonne and US$2,638 per tonne.

LME aluminium opening stock declined through the week from 1000375 tonnes to 974700 tonnes.

Outlook for the Indian Aluminium Industry

SHFE Aluminium Price Trend

SHFE aluminium benchmark price exceeded US$3,000 per tonne this week, starting from US$2,971 per tonne on Monday, November 8. On Tuesday, November 9, the price inched up by US$10 per tonne to stand at US$2,981 per tonne but fell the next day to US$2,923 per tonne. On Thursday, November 11, SHFE price jumped by US$28 per tonne to stand at US$2,951 per tonne, and further expanded on Friday to end the week at US$3,042 per tonne.

Tagged with:

Price LME China

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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