LME aluminium price records a drop of US$0.50/t, while SHFE grows by US$10/t
The US dollar eased against a basket its rivals on Friday, as investors digested the news of the US imposing fresh sanctions on Iran and weaker-than-expected US jobs data.
As on Friday January 10, LME aluminium cash (bid) price continued to drop to stand at US$1770 per tonne, while LME official settlement price to US$1770.50 per tonne after inching down from US$1771 per tonne on January 9. 3-months bid price also decreased to US$ 1797.50 per tonne and 3-months offer price US$ 1798 per tonne. Dec 20 bid price clocked at US$ 1935 per tonne and Dec 20 offer price at US$ 1940 per tonne.
The LME aluminium opening stock further declined to 1410675 tonnes, compared with 1425575 tonnes on January 9. Live Warrants totalled at 797175 tonnes and Cancelled Warrants 613500 tonnes.
LME aluminium 3-months Asian Reference Price came in at US$ 1808.75 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE (Shanghai Future Exchange) continued to extend growth on Monday, January 13, to come in at US$2099 per tonne.
The most traded SHFE 2003 contract inched down to RMB 14,065 per tonne on Friday night. It is likely to move at RMB 14,000-14,150 per tonne today, while spot discounts are seen at a maximum of RMB 40 per tonne against the SHFE 2001 contract.
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