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05 FEBRUARY 2021 AL CIRCLE

LME aluminium price extended growth to U$1979.50/t; SHFE closed the week higher at US$2407/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium increased 0.91 per cent to close at US$ 1,994.50 per tonne on Thursday, February 4, with open interest decreasing 4,593 lots to 728,000 lots.

LME aluminium price extended growth to U$1979.50/t

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LME aluminium cash (bid) price and LME official settlement price further witnessed a hike, albeit slower than the previous day, by US$ 6.5 per tonne to stand at US$ 1979.50 per tonne on Thursday, February 4. 3-months bid price and 3-months offer price stood at US$ 1984 per tonne, up by US$ 12 per tonne from US$ 1972 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2067.50 per tonne.

The LME aluminium opening stock decreased from 1425225 tonnes on February 3 to 1415125 tonnes on February 4. Live Warrants totalled 1174675 tonnes, while Cancelled Warrants stood at 240450 tonnes.

LME aluminium 3-months Asian Reference Price hovered around US$ 1989.47 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE again soared by US$ 42 per tonne to close the week on Friday, February 5, at US$ 2407 per tonne.

Global Aluminium Industry Outlook 2021

The most-liquid SHFE 2103 aluminium contract finished the day 1.97 per cent higher at RMB 15,280 per tonne. Open interest increased 1,344 lots to 168,558 lots.

The most-active SHFE 2103 aluminium contract ended 1.75 per cent higher at RMB 15,440 per tonne in overnight trading, with open interest adding 5,655 lots to 174,000 lots. It is expected to move between RMB 15,100-15,600 per tonne today, while spot premiums will be seen at RMB 0-20 per tonne.

Tagged with:

Price Aluminium futures LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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