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10 NOVEMBER 2020 AL CIRCLE

LME aluminium price exceeds $1900/t surging by 1.14% over the weekend; SHFE slips by $6/t to $2288/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium rose 0.05 per cent to close at US$ 1,902 per tonne on Monday, with open interest falling to 746,000 lots. It is expected to trade between US$ 1,880-1,940 per tonne today. 

LME aluminium price exceeds $1900/t surging by 1.14% over the weekend; SHFE slips by $6/t to $2288/t

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LME aluminium cash (bid) price and LME official settlement price continued to increase for the third day in a row from US$ 1891.50 per tonne to US$ 1913 per tonne on Monday, November 9. 3-months bid price and 3-months offer price stood at US$ 1930 per tonne, growing by US$ 26 per tonne from US$ 1904 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1974 per tonne versus US$ 1948 per tonne on Friday, November 6.

The LME aluminium opening stock further decreased from 1437675 tonnes to 1431575 tonnes. Live Warrants hovered at 1246475 tonnes, while Cancelled Warrants 185100 tonnes.

LME aluminium 3-months Asian Reference Price stood at US$ 1911.36 per tonne, as of November 9.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE declined US$ 6 per tonne to stand at US$ 2288 per tonne on Tuesday, November 10, 2020.

Global Bauxite Industry Insights

The most-liquid SHFE 2012 aluminium contract rose 0.37 per cent to finish the day at RMB 14,870 per tonne, after hitting a two-year high at RMB 14,985 per tonne earlier in the session. It is expected to remain firm in the near term amid the weak US dollar index.

The most-liquid SHFE 2012 aluminium contract slid 0.1 per cent to settle at RMB 14,855 per tonne on Monday night, and is likely to trade between RMB 14,700-15,100 per tonne on Tuesday, November 9.

Tagged with:

Price LME Aluminium futures

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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