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04 FEBRUARY 2021 AL CIRCLE

LME aluminium price gained US$15/t to stand at US$1973/t; SHFE price soared to US$2365/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium firmed 0.28 per cent to end at US$ 1,976.50 per tonne on Wednesday, February 3, with open interest decreasing 1,780 lots to 733,000 lots.

LME aluminium price gained US$15/t to stand at US$1973/t; SHFE price soared to US$2365/t

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LME aluminium cash (bid) price and LME official settlement price gained US$ 15 per tonne to stand at US$ 1973 per tonne on Wednesday, February 3. 3-months bid price and 3-months offer price stood at US$ 1972 per tonne, up by US$ 9.50 per tonne from US$ 1962.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 2054.50 per tonne.

The LME aluminium opening stock increased to 1425225 tonnes on February 3 from 1421725 tonnes on February 2. Live Warrants totalled 1173450 tonnes, while Cancelled Warrants at 251775 tonnes.

LME aluminium 3-months Asian Reference Price hovered around US$ 1964.10 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE soared by US$ 39 per tonne to settle at US$ 2365 per tonne on Thursday, February 4, following a plunge from US$ 2352 per tonne to US$ 2326 per tonne on Wednesday, February 3.

Global Aluminium Industry Outlook 2021

The most-liquid SHFE 2103 aluminium contract finished the day 0.86 per cent lower at RMB 14,965 per tonne. Open interest rose 1,982 lots to 167,214 lots. Support from the fundamentals was insufficient, and the participation of speculative funds declined. It is estimated that the contract will fluctuate between RMB 14,700-15,100 per tonne tonight.

The most-traded SHFE 2103 aluminium contract trended higher in overnight trading, closing 1.37 per cent firmer at RMB 15,190 per tonne, with open interest decreasing 2,808 lots to 164,000 lots. It is likely to move between RMB 14,900-15,200 per tonne today, while spot premiums will be seen at RMB 0-20 per tonne.

Tagged with:

Price LME Aluminium

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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