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07 NOVEMBER 2020 AL CIRCLE

LME aluminium price rallied this week from $1834.5/t to $1891.5/t; SHFE closed higher at $2263/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

On Monday, November 2, three-month LME aluminium climbed 1.24 per cent to close at US$1,871 per tonne. On November 3 & 4, the price grew further by 1.18 per cent and 0.82 per cent to settle at US$ 1,893 per tonne and US$ 1908.50 per tonne, respectively. However, on Thursday, November 5, three-month LME aluminium fell 0.84 per cent to close at US$ 1,892.50 per tonne.

LME aluminium price rallied this week from $1834.5/t to $1891.5/t; SHFE closed higher at $2263/t

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LME aluminium cash (bid) price and LME official settlement price displayed an uptrend this week during November 2-6 from US$ 1834.50 per tonne to US$ 1891.50 per tonne, with an intermittent fall on Wednesday, November 4. Starting the week on Monday, November 2, at US$ 1834.50 per tonne, both LME aluminium cash (bid) price and LME official settlement price soared to US$ 1891 per tonne on Tuesday, November 3. On November 4, the prices fell to US$ 1877 per tonne, which, however, on November 5, increased to US$ 1885.50 per tonne. The prices extended growth on November 6 to settle at US$ 1891.50 per tonne.

3-months bid price and 3-months offer price also recorded a hike this week from US$ 1839.50 per tonne to US$ 1904 per tonne. Hovering at US$ 1839.50 per tonne on Monday, November 2, 3-months bid price and 3-months offer price also grew to US$ 1891 per tonne like the LME prices. On Wednesday, November 4, 3-months bid price and 3-months offer price decreased to US$ 1885.50 per tonne, but hiked on the next day, November 5, to US$ 1,896 per tonne. The prices continued to grow on Friday, November 6, to US$ 1904 per tonne.

Dec 21 bid price and Dec 21 offer price grew from US$ 1882 per tonne on Monday, November 2, to US$ 1948 per tonne on Friday, November 6.

The LME aluminium opening stock decreased from 1461025 tonnes to 1437675 tonnes during the week.

Global Bauxite Industry Insights

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE hiked from US$ 2223 per tonne on November 2 to US$ 2263 per tonne on November 6, with an intermittent fall on November 4. Starting the week on Monday at US$ 2223 per tonne, SHFE aluminium price climbed to US$ 2242 per tonne on Tuesday, November 3. On November 4, the price decreased to US$ 2226 per tonne, but gained on Thursday, November 5, to US$ 2251 per tonne. On Friday, November 6, the price improved further to close the week at US$ 2263 per tonne.

Tagged with:

Price LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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