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21 JUNE 2021 AL CIRCLE

LME aluminium price extends decline by 2% to US$2374/t; SHFE price reduces to US$2836/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium decreased 4.41 per cent to end at US$ 2,352 per tonne on Thursday night, with open interest losing 1,771 lots to 697,000 lots, and is expected to trade between US$ 2,320-2,420 per tonne today.

LME aluminium price extends decline by 2% to US$2374/t; SHFE price reduces to US$2836/t

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LME aluminium cash (bid) price and LME official settlement price extended decline for the fourth day in a row by US$ 53.50 per tonne or 2.20 per cent to close at US$ 2,374 per tonne as of Friday, June 18. 3-months bid price and 3-months offer price stood at US$ 2,380 per tonne, down by US$ 27 per tonne from US$ 2,407 per tonne on June 17. Dec 22 bid price and Dec 22 offer price declined from US$ 2,395 per tonne on June 17 to US$ 2,374.50 per tonne on June 18.

The LME aluminium opening stock decreased from 1627225 tonnes to 1621325 tonnes. Live Warrants totalled 1039150 tonnes, while Cancelled Warrants stood at 582175 tonnes.

LME aluminium 3-months Asian Reference Price dropped from US$ 2,449.28 per tonne to US$ 2,389.06 per tonne on June 18.

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SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE also extended downfall to stand at US$ 2,836 per tonne on Monday, June 21.

The most-liquid SHFE 2107 aluminium contract finished the day 1.84 per cent lower at RMB 18,380 per tonne. Open interest fell 20,519 lots to 139,525 lots.

The most traded SHFE 2107 aluminium contract declined 1.28 per cent to close at RMB 18,450 per tonne last night, with open interest down 4,896 lots to 155,000 lots. The July contract is expected to trade between RMB 18,350-18,800 per tonne today, and the aluminium ingots are likely to be offered at narrow premiums in east China.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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