
The US dollar index edged higher on Wednesday in choppy trading, attracting safe-haven bids, as investor concerns remained over the economic fallout of the pandemic.
Three-month LME aluminium fell to a new more than four-year trough of US$ 1,455 per tonne in the North American trading session, before it recouped some losses to close the day 0.61 per cent weaker at US$ 1,469 per tonne.
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As of Wednesday, April 8, both LME aluminium cash (bid) price and LME official settlement price fell sharply from US$ 1455.50 per tonne to US$ 1421.50 per tonne, followed by a significant increase on the previous day. 3-months bid price and 3-months offer price also recorded a sharp fall from US$ 1491.50 per tonne to US$ 1459.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1591.50 per tonne, compared to US$ 1623.50 per tonne on Tuesday, April 7.
The LME aluminium opening stock climbed to 1227450 tonnes from 1213750 tonnes. Live Warrants totalled at 1091750 tonnes, and Cancelled Warrants 135700 tonnes.
LME aluminium 3-months Asian Reference Price hovered at US$ 1481.23 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased today, on April 9, from US$ 1636 per tonne to US$ 1643 per tonne.
The most-liquid SHFE June contract rose, recovering losses from a lower open, to close just 0.13 per cent weaker at RMB 11,620 per tonne.
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