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06 FEBRUARY 2021 AL CIRCLE

LME aluminium price gained US$22/t this week to close above US$2000/t; SHFE price rose by US$55/t to US$2407/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium stood a two-week low at US$ 1960.50 per tonne on Monday, February 1. On Tuesday, it gained 0.54 per cent to settle higher at US$ 1971 per tonne. It further firmed 0.28 per cent to end at US$ 1,976.50 per tonne on Wednesday and also grew 0.91 per cent to close at US$ 1,994.50 on Thursday, February 4.

LME aluminium price gained US$22/t this week to close above US$2000/t; SHFE price rose by US$55/t to US$2407/t

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LME aluminium cash (bid) price and LME official settlement price started the week on Monday, February 1, with a drop of US$ 1.5 per tonne to stand at US$ 1985.50 per tonne. The prices extended the decrease by US$ 27.50 per tonne on Tuesday, February 2, to come in at US$ 1958 per tonne. The next day, on February 3, they gained US$ 15 per tonne to peg at US$ 1973 per tonne and further US$ 6.5 per tonne on February 4 to US$ 1979.50 per tonne. Both LME aluminium cash (bid) price and LME official settlement price closed the week on Friday, February 5, at US$ 2007.50 per tonne, registering a hike of US$ 28 per tonne from the previous day and US$ 22 per tonne over the week.

3-months bid price and 3-months offer price grew by US$ 29.50 per tonne over the week, except the fact that they declined in the first two days of the week from US$ 1987.50 per tonne to US$ 1982.50 per tonne on Monday, February 1, and then to US$ 1962.50 per tonne on Tuesday, February 2. Wednesday onwards, the prices started growing to US$ 1972 per tonne, US$ 1984 per tonne on Thursday, and US$ 2012 per tonne on Friday, February 5.

The LME aluminium opening stock, however, decreased this week from 1428175 tonnes on Monday to 1406525 tonnes on Friday. Only on Wednesday, February 3, it recorded a rise from 1421725 tonnes to 1425225 tonnes.

Global Aluminium Industry Outlook 2021

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE rose this week by US$ 55 per tonne. On Monday, February 1, the price stood at US$ 2352 per tonne, which remained the same until fell on Wednesday, February 3, to US$ 2326 per tonne. On Thursday, February 4, SHFE price jumped to US$ 2365 per tonne and further surged to close the week on Friday, February 5, at US$ 2407 per tonne.

Tagged with:

Price LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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