LME aluminium price rebounded to US$2011.50/t amid continued decrease in opening stock; SHFE price down by US$11/t

Three-month LME aluminium rose 1.28 per cent to close at US$ 2,020 per tonne on Monday, January 25, with open interest rising to 740,000 lots. Schumer, the leader of the Senate Majority Party, said that he would strive to launch a round of programs by mid-March at the latest, and the US$ 1.9 trillion stimulus bill faced the risk of delaying. Under the cautious mood, the US dollar index rebounded. It is expected to trade between US$ 1,990 per tonne and US$ 2,050 per tonne today.

LME aluminium cash (bid) price and LME official settlement price soared by US$ 36 per tonne to surpass the mark of US$ 2000 per tonne on Monday, January 25. The prices started the week at US$ 2011.50 per tonne versus US$ 1992.50 per tonne on Friday, January 22. 3-months bid price and 3-months offer price stood at US$ 2006 per tonne, up by US$ 30 per tonne from US$ 1976 per tonne on January 22. Dec 21 bid price and Dec 21 offer price came in at US$ 2078 per tonne.

The LME aluminium opening stock further slid to 1412925 tonnes on Monday from1416775 tonnes on Friday. Live Warrants totalled 1165700 tonnes, while Cancelled Warrants at 247225 tonnes.

LME aluminium 3-months Asian Reference Price stood at US$ 2000.16 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE decreased US$ 11 per tonne to come in at US$ 2299 per tonne on Tuesday, January 26.

The most-liquid SHFE 2013 aluminium contract fell 0.17 per cent to settle at RMB 14,935 per tonne on Monday night, and is likely to trade between RMB 14,090 per tonne and RMB 15,060 per tonne today.