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08 JUNE 2021 AL CIRCLE

LME aluminium price settled US$5/t higher at US$2417.50/t; SHFE price climbed to US$2897/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium edged down 1.41 per cent to close at US$ 2,420.5 per tonne last night, and is likely to trade between US$ 2,410-2,460 per tonne today as the lower US dollar supports commodity prices.

LME aluminium price settled US$5/t higher at US$2417.50/t; SHFE price climbed to US$2897/t

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On Monday, June 7, LME aluminium cash (bid) price and LME official settlement price inched up US$ 5 per tonne to reach at US$ 2,417.50 per tonne. But 3-months bid price and 3-months offer price decreased by US$ 8 per tonne to come in at US$ 2,418.50 per tonne. Dec 22 bid price and Dec 22 offer price also decreased from US$ 2,433.50 per tonne to US$ 2,424 per tonne.

LME aluminium opening stock declined from 1676100 tonnes on June 4 to 1666375 tonnes on June 7. Live Warrants totalled 1108100 tonnes, while Cancelled Warrants stood at 558275 tonnes.

LME aluminium 3-months Asian Reference Price climbed from US$ 2,402.66 per tonne to US$ 2,438.33 per tonne on Monday, June 7.

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SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE edged US$ 43 per tonne higher on Tuesday, June 8, to settle at US$ 2,897 per tonne.

The most liquid SHFE 2107 aluminium contract inched up 0.05 per cent last night to settle at RMB 18,470 per tonne, and is expected to trade between US$ 18,300-18,600 per tonne today. The fundamental consumption is in the peak season, and domestic social inventories kept falling amid the power curtailment in some regions. Spots are traded at small premiums over June contract.

Tagged with:

Price LME Inventory Market

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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