
Three-month LME aluminium bounced off a two-week low of US$ 1,953 per tonne to an intraday high of US$ 1,979 per tonne before relinquishing some gains to end 0.54 per cent higher at US$ 1,971 per tonne on Tuesday, February 2, with open interest adding 4,145 lots to 735,000 lots.

LME aluminium cash (bid) price and LME official settlement price decreased sharply by US$ 27.50 per tonne to stand at US$ 1958 per tonne on Tuesday, February 2. 3-months bid price and 3-months offer price stood at US$ 1962.50 per tonne, down by US$ 20 per tonne from US$ 1982.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2042.50 per tonne.
The LME aluminium opening stock edged lower at 1421725 tonnes on February 2 compared with 1428175 tonnes on February 1. Live Warrants totalled 1164200 tonnes, while Cancelled Warrants at 257525 tonnes.
LME aluminium 3-months Asian Reference Price hovered around US$ 1963.13 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE plunged to US$ 2326 per tonne on Wednesday, February 3, following a restraint at US$ 2352 per tonne on Tuesday, February 2.
The most-liquid SHFE 2103 aluminium contract settled 0.79 per cent lower at RMB 14,975 per tonne in overnight trading, with open interest rising 2,989 lots to 168,000 lots, and is likely to move between RMB 14,800-15,100 per tonne today, while spot premiums will be seen stable at RMB 0-20 per tonne.
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