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13 MAY 2021 AL CIRCLE

LME aluminium price shrinks 3% to close at US$2474/t; SHFE price declines by US$21/t to US$3068/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium fell 1.46 per cent to close at US$ 2,496 per tonne on Wednesday, May 12. It is expected that the contract will trade between US$ 2,450-2,520 per tonne today. 

LME aluminium price shrinks 3% to close at US$2474/t

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LME aluminium cash (bid) price and LME official settlement price decreased for the second day in a row to stand at US$ 2,474 per tonne on Wednesday, May 12, down by US$ 75.50 per tonne or 2.96 per cent from May 11. 3-months bid price and 3-months offer price declined by US$ 72.50 per tonne from US$ 2,565 per tonne to US$ 2,492.50 per tonne. Dec 22 bid price and Dec 22 offer price came in at US$ 2,488 per tonne on Wednesday, reflecting a downtrend of US$ 60 per tonne from US$ 2,548 per tonne.

The LME aluminium opening stock continued to decrease from 1780900 tonnes on May 11 to 1772700 tonnes on May 12. Live Warrants totalled 1223600 tonnes, while Cancelled Warrants stood at 549100 tonnes.

LME aluminium 3-months Asian Reference Price slid from US$ 2,557.68 per tonne to US$ 2,542.44 per tonne.

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SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE again shrank by US$ 21 per tonne on May 13 to come in at US$ 3,068 per tonne, following a slight rise from US$ 3,087 per tonne to US$ 3,089 per tonne on May 12.

The most-active SHFE 2106 aluminium contract gained 0.25 per cent to close the day at RMB 19,985 per tonne, with open interest decreasing 7,265 lots to 214,000 lots. 

The most-liquid SHFE 2106 aluminium contract fell 1.13 per cent to settle at RMB 19,710 per tonne on Wednesday night. Support below will be seen from RMB 195,000 per tonne today.

Tagged with:

Price LME Aluminium

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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