
Three-month LME aluminium rose 0.91 per cent to close at US$ 1985.50 per tonne on Tuesday, November 24, with open interest rising to 727,000 lots. The pressure at US$ 2000 per tonne will be monitored in the near term. It is expected to trade between US$ 1,960-2,000 per tonne today.

LME aluminium cash (bid) price and LME official settlement price extended the downfall on Tuesday by US$ 5 per tonne to stand at US$ 1964.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 1981 per tonne, decreasing by US$ 4.50 per tonne from US$ 1985.50 per tonne on November 23. Dec 21 bid price and Dec 21 offer price dropped marginally by US$ 1 per tonne to come in at US$ 2005 per tonne.
The LME aluminium opening stock extended downfall from 1395525 tonnes to 1392250 tonnes on November 24. Live Warrants hovered at 1232200 tonnes, while Cancelled Warrants at 160050 tonnes.
LME aluminium 3-months Asian Reference Price stood at US$ 1983.14 per tonne, as of November 24.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE rose to US$ 2434 per tonne on Wednesday, November 25, from US$ 2397 per tonne on November 24.
The most-liquid SHFE 2012 aluminium contract edged down 0.03 per cent on the day to close at RMB 15,880 per tonne, with open interest falling 14,168 lots to 119,000 lots.
The most-liquid SHFE 2012 aluminium contract went up 0.92 per cent to settle at RMB 15,945 per tonne on Tuesday night, and is likely to trade between RMB 15,800-16,200 per tonne today. Spot high premium supports November contract prices.
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