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21 MAY 2021 AL CIRCLE

LME aluminium price inched down by $10.50/t to close at $2392/t; SHFE fell for the third day in a row to $2893/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium fell 2.49 per cent to close at US$ 2,554 per tonne on Thursday. It is expected to trade between US$ 2,400-2,480 per tonne today. The contract will keep fluctuating weakly following SHFE aluminium.

LME aluminium price inched down by $10.50/t to close at $2392/t

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LME aluminium cash (bid) price and LME official settlement price continued to decline by US$ 10.50 per tonne to close at US$ 2,392 per tonne on Thursday, May 20. 3-months bid price and 3-months offer price decreased by US$ 13.50 per tonne to stand at US$ 2,419 per tonne. Dec 22 bid price and Dec 22 offer price stood at US$ 2,421 per tonne on Thursday compared to US$ 2,427.59 per tonne on Wednesday, May 19.

The LME aluminium opening stock decreased from 1759675 tonnes on May 19 to 1757350 tonnes on May 20. Live Warrants totalled 1218950 tonnes, while Cancelled Warrants stood at 538400 tonnes.

LME aluminium 3-months Asian Reference Price declined from US$ 2,449.17 per tonne to US$ 2,426.03 per tonne on Thursday.

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SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE fell for the third day in a row by US$ 57 per tonne to close the week on Friday, May 21, at US$ 2,893 per tonne.

The most-active SHFE 2107 aluminium contract declined 1.85 per cent to close the day at RMB 19,140 per tonne, with open interest losing 2,971 lots to 233,000 lots.

The most-liquid SHFE 2107 aluminium contract fell 2.25 per cent to settle at RMB 18,710 per tonne on Thursday night, and is expected to trade between RMB 18,500-18,900 per tonne today. On fundamentals, the consumption of aluminium in the peak season prompted the social aluminium ingot inventories to continue to decrease. It is expected that the contract will have limited room for continuous decline.

Tagged with:

Price Aluminium LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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