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18 SEPTEMBER 2021 AL CIRCLE

LME aluminium price ends this week lower at $2915/t after touching $3000/t; SHFE price closes at $3516/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

On Monday, September 13, the LME aluminium benchmark price touched the milestone of US$3,000 per tonne, the highest since 2008, fuelled by raw materials supply disruptions in Guinea coupled with production restrictions in China. But both the LME aluminium cash (bid) price and LME official settlement price dropped the same day to close at US$2,949 per tonne and US$2,950 per tonne, however, up 1.8 per cent from the previous day. On Tuesday, September 14, LME aluminium cash (bid) price and LME official settlement price decreased by nearly 3.5 percent to come in at US$2,846.50 per tonne and US$2,847 per tonne. The prices increased on Wednesday September, 15, to US$2,867 per tonne and US$2,868 per tonne, respectively, which further inched up on Thursday to stand at US$2,868.50 per tonne and US$ 2,869 per tonne. LME aluminium cash (bid) price and LME official settlement price closed even higher on Friday, September 17, at US$2,914 per tonne and USS$2,915 per tonne, respectively.

LME aluminium price touches $3000/t this week before closing at $2915/t; SHFE price ends the week at $3516/t

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3-month bid price and 3-month offer price started the week on September 13 at US$2,949.50 per tonne and US$2,950 per tonne, respectively, which decreased the next day to US$2,857 per tonne and US$2,858 per tonne. On Wednesday, September 15, both the prices increased to settle at US$2,887.50 per tonne and US$2,888 per tonne, and rose higher on Thursday, September 16, to close at US$2,892.50 per tonne and US$2,893 per tonne. On Friday, 3-month bid price and 3-month offer price ended the week at US$ 2,926 per tonne and US$ 2,927 per tonne.

Dec-22 bid price ranged between US$2,787 per tonne and US$2,758 per tonne, while Dec-22 offer between US$2,792 per tonne an US$2,763 per tonne through this week from September 13-17.

Outlook for the Indian Aluminium Industry

SHFE Aluminium Price Trend

On Monday, September 13, Benchmark aluminium price for SHFE surged by US$137 per tonne to start the week at US$3,631 per tonne. On Tuesday, September 14, the price plunged by US$89 per tonne or 2.45 per cent to come in at US$3,542 per tonne, which further edged down by US$82 per tonne on September 14 to close at US$3,460 per tonne. On Thursday, September 15, SHFE aluminium price gained US$69 per tonne to settle at US$3,529 per tonne. The price decreased by US$13 per tonne to close at US$3,516 per tonne on Friday, September 17.

Tagged with:

Price LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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