
The US dollar started the week on a negative footing and edged lower on Monday, June 29, and extended the downfall on Wednesday, July 1.
Three-month LME aluminium closed higher on Monday, June 29, for the second consecutive session, ending at US$ 1,613 per tonne, up 0.97 per cent on the day. On Tuesday, June 30, it hovered in a broad range between US$1,615-1,626 per tonne and ended higher on the day at US$1,618 per tonne. However, on the next day, the dollar index touched a one-week low of 97.025 before closing at 97.153.
{alcircleadd}
LME aluminium cash (bid) price and LME official settlement price started the week on Monday, June 29, at US$ 1589 per tonne, an increase of US$ 7 per tonne from US$ 1582 per tonne on Friday, June 26. Continuing to grow, the prices on Tuesday, June 30, stood at US$ 1602 per tonne, but decreased on the next day to US$ 1593.5 per tonne. On Thursday, July 2, the prices rebounded at US$ 1601.5 tonnes, which on Friday, July 3, again dipped to US$ 1581.5 per tonne. So, the data indicates that LME prices pegged low at the end of the week after displaying a positive sentiment through the first four days.
3-months bid price and 3-months offer price, on the other hand, rallied from US$ 1607 per tonne on Monday to US$ 1614 per tonne on Friday. Intermittently, on Tuesday and Thursday, the prices stood as high as US$ 1621.50 per tonne. Dec 21 bid price and Dec 21 offer price also recorded a hike over the week ranging between US$ 1706.50 per tonne and US$ 1716 per tonne.
The LME aluminium opening stock trended down from 1648000 tonnes on Monday, June 29, to 1629275 tonnes on Friday, July 3. Live Warrants, however, rallied from 1472775 tonnes to 1457700 tonnes, but Cancelled Warrants plummeted from 175225 tonnes to 171575 tonnes.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE trended up throughout week from US$ 1958 per tonne to US$ 2022 per tonne. On Tuesday, June 30, the price stood at US$ 1977 per tonne after growing by US$ 19 per tonne from the previous day. On Wednesday, July 1, the price increased to US$ 2005 per tonne and further to US$ 2018 per tonne on Thursday July 2. On Friday, SHFE price closed higher at US$ 2022 per tonne.
Responses







