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09 FEBRUARY 2021 AL CIRCLE

LME aluminium price soared to US$2025.50/t; SHFE price rallied to the highest this year at US$2460/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium added 0.4 per cent to settle at US$ 2,027 per tonne on Monday after hitting a one-month high at US$ 2,040 per tonne earlier in the session, with open interest decreasing 4,352 lots to 741,000 lots.

LME aluminium price soared to US$2025.50/t

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LME aluminium cash (bid) price and LME official settlement price opened the week on Monday, January 8, at US$ 2025.50 per tonne, a surge of US$ 18 per tonne from US$ 2007.50 per tonne on Friday, January 5. 3-months bid price and 3-months offer price climbed by US$ 15.50 per tonne from US$ 2012 per tonne to US$ 2027.50. Dec 21 bid price and Dec 21 offer price hovered around US$ 2096.50 per tonne.

The LME aluminium opening stock decreased from 1406525 tonnes to 1402625 tonnes on February 8. Live Warrants totalled 1169125 tonnes, while Cancelled Warrants stood at 233500 tonnes.

LME aluminium 3-months Asian Reference Price rose to US$ 2028.39 from US$ 2002 per tonne on Friday.

Global Aluminium Industry Outlook 2021

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE rallied for the fourth consecutive day by US$ 33 per tonne to come in at US$ 2460 per tonne on Tuesday, February 9. This marks the highest price since the beginning of 2021.

The most-liquid SHFE 2103 aluminium contract gained 0.76 per cent to close at RMB 15,900 per tonne in overnight trading, with open interest losing 3,217 lots to 168,000 lots. It is expected to move between RMB 15,500-16,000 per tonne today.

Tagged with:

Price LME Aluminium

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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