
Three-month LME aluminium climbed 1.18 per cent to close at US$ 1,893 per tonne on Tuesday, November 3, with open interest rising to 742,000 lots. It is expected to trade between US$ 1,870-1,910 per tonne on November 4.

LME aluminium cash (bid) price and LME official settlement price increased for the third day in a row on Tuesday, November 3. The prices jumped significantly by US$ 56.50 per tonne from US$ 1,834.50 per tonne to US$ 1,891 per tonne. 3-months bid price and 3-months offer price also stood at US$ 1,891 per tonne on November 3, growing by US$ 51.50 per tonne from US$ 1,839.50 per tonne on November 2. Dec 21 bid price and Dec 21 offer price came in at US$ 1,926 per tonne, an increase of US$ 44 per tonne from US$ 1,882 per tonne.
The LME aluminium opening stock decreased from 1461025 tonnes to 1456075 tonnes. Live Warrants remained restrained at 1219725 tonnes, while Cancelled Warrants declined from 241300 tonnes to 236350 tonnes.
LME aluminium 3-months Asian Reference Price hovered at US$ 1869.36per tonne, as of November 3.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE plunged to stand at US$ 2,226 per tonne on Wednesday, November 4, following consecutive hikes on October 30, November 2, and November 3 from US$ 2,158 per tonne to US$ 2,242 per tonne.
The most-liquid SHFE 2012 aluminium contract rose 0.65 per cent to end the day at RMB 14,760 per tonne, and is expected to maintain at high levels in the short term.
The most-liquid SHFE 2012 aluminium contract rose 0.47 per cent to settle at RMB 14,830 per tonne on Tuesday night, and is likely to trade between RMB 14,700-15,000 per tonne today. Fluctuations caused by macro changes will come under scrutiny.
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