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14 MAY 2021 AL CIRCLE

LME aluminium price extended downfall by US$51.50/t to US$2422.50/t; SHFE price shrank to US$3044/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium fell 1.68 per cent to close at US$ 2,554 per tonne on Thursday. It is expected to trade between US$ 2,400-2,480 per tonne today.

LME aluminium price extended downfall by US$51.50/t to US$2422.50/t

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LME aluminium cash (bid) price and LME official settlement price continued to decline for the third day in a row by US$ 51.50 per tonne to come in at US$ 2,422.50 per tonne on Thursday, May 13. 3-months bid price and 3-months offer price slid by US$ 56.50 per tonne from US$ 2,492.50 per tonne to US$ 2,436 per tonne. Dec 22 bid price and Dec 22 offer price came in at US$ 2,430 per tonne on Thursday, reflecting a decrease of US$ 58 per tonne from US$ 2,488 per tonne.

The LME aluminium opening stock declined further from 1772700 tonnes on May 12 to 1766025 on May 13. Live Warrants totalled 1219700 tonnes, while Cancelled Warrants stood at 546325 tonnes.

LME aluminium 3-months Asian Reference Price plunged by US$ 54.50 per tonne to stand at US$ 2,488 per tonne.

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SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE shrank for the second consecutive day by US$ 24 per tonne to close the week on Friday, May 14, at US$ 3,044 per tonne.

The most-active SHFE 2106 aluminium contract fell 1.3 per cent to close the day at RMB 19,675 per tonne, with open interest losing 16,361 lots to 197,000 lots.

The most-liquid SHFE 2106 aluminium contract fell 0.81 per cent to settle at RMB 19,555 per tonne on Thursday night, and is likely to reach at RMB 19,650 per tonne and fall below RMB 19,400 per tonne.

Tagged with:

Price LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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