LME aluminium price grew marginally to close at US$2010.50/t; SHFE price increased to US$2297/t after consecutive declines
The LME complex closed mixed on Thursday. Benchmark aluminium price on the London Metal Exchange grew slightly by 0.50 per cent to close at US$ 2010.50 per tonne on January 14.
LME aluminium cash (bid) price and LME official settlement price inched up marginally by US$ 1 per tonne from US$ 2009.50 per tonne to US$ 2010.50 per tonne on Thursday, January 14. 3-months bid price and 3-months offer price stood at US$ 2009 per tonne, up by only USS$ 0.50 per tonne from US$ 2008.50 per tonne. Dec 21 bid price and Dec 21 offer price climbed US$ 3.5 per tonne to stand at US$ 2079.50 per tonne.
The LME aluminium opening stock decreased from 1293300 tonnes to 1285125 tonnes. Live Warrants totalled 1179500 tonnes, while Cancelled Warrants 105625 tonnes.
LME aluminium 3-months Asian Reference Price hovered at US$ 2012.45 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased by US$ 23 per tonne to US$ 2297 per tonne on Friday, January 15, after fourth consecutive days of decline from US$ 2429 per tonne to US$ 2274 per tonne.
Shanghai base metals mostly advanced in overnight trading, with aluminium grew 0.88 per cent. Till Thursday, January 14, SHFE aluminium benchmark dropped to US$ 2274 per tonne, starting from Monday, January 11.
Primary aluminium inventories continue to expand week-on-week to stand at 684,000 tonnes
Next articleVedanta Limited cuts aluminium ingot price by 1% with effect from January 14
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