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15 OCTOBER 2020 AL CIRCLE

LME aluminium price shed $5/t to stand at $1836/t after four consecutive days of hike; SHFE increased to $2218/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium shed 0.43 per cent to end at US$ 1,847.5 per tonne on Wednesday, October 14, after hitting an intraday high at US$ 1,858.5 per tonne earlier in the session. It is expected to move between US$ 1,830-1,870 per tonne today.

LME aluminium price shed $5/t to stand at $1836/t after four consecutive days of hike; SHFE increased to $2218/t

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Both LME aluminium cash (bid) price and LME official settlement price slipped by US$ 5 per tonne from US$ 1841 per tonne to US$ 1836 per tonne, as of October 14, after increasing for four consecutive days. 3-months bid price and 3-months offer price stood at US$ 1853.50 per tonne, down marginally by US$ 0.50 per tonne from the previous day. Dec 21 bid price and Dec 21 offer price, however increased by US$ 1.50 per tonne from US$ 1904 per tonne to US$ 1905.50 per tonne.

The LME aluminium opening stock extended decline 1412600 tonnes to 1412125 tonnes. Live Warrants stood at 1126300 tonnes, while Cancelled Warrants at 285825 tonnes.

LME aluminium 3-months Asian Reference Price came in at US$ 1851.77per tonne, as of October 14.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE increased from US$ 2210 per tonne to US$ 2218 per tonne on Thursday, October 15, 2020.

aluminium

The most-liquid SHFE 2011 aluminium contract climbed to an intraday high of RMB 14,750 per tonne and closed up 0.27 per cent at RMB 14,650 per tonne. Open interest rose from 4,243 lots to 126,079 lots. Funds flowed in for the fourth consecutive day. Inventories and macro changes will be monitored. China's primary aluminium output increased 7.68 per cent year on year to 3.11 million tonnes in September (30 production days), showed an SMM survey.

The most-active SHFE 2011 aluminium contract rose 0.34 per cent to settle at RMB 14,695 per tonne in overnight trading, and is expected to trade between RMB 14,450-14,900 per tonne today.

Tagged with:

Price LME China Inventory

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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