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20 FEBRUARY 2021 AL CIRCLE

LME aluminium price surged by US$56/t during February 15-19; SHFE opened the market after CNY holiday at US$2527/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Benchmark aluminium price on the London Metal Exchange increased by 2.69 per cent throughout the week during February 15-19, 2021.

LME aluminium price surged by US$56/t during February 15-19; SHFE opened the market after CNY holiday at US$2527/t

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Both LME aluminium cash (bid) price and LME official settlement price recorded a surge during February 15-19 from US$ 2079 per tonne to US$ 2135 per tonne – an increase of US$ 56 per tonne. However, on Tuesday, February 16, the prices dipped by US$ 2 per tonne from US$ 2079 per tonne on Monday to US$ 2077 per tonne. On Wednesday, they hiked to US$ 2096.50 per tonne, which further expanded by US$ 50.50 per tonne to reach at US$ 2147 per tonne on Thursday, February 18. On Friday, February 19, LME prices shredded US$ 12 per tonne to close the week at US$ 2135 per tonne.

3-months bid price and 3-months offer price ranged between US$2082.50 per tonne and US$ 2150.50 per tonne this week, registering a hike of US$ 68 per tonne. On Tuesday, February 16, the prices increased by US$ 3.5 per tonne to stand at US$ 2086 per tonne, which further rose on Wednesday to US$ 2103.50 per tonne. Extending the rise on Thursday, February 18, both 3-months bid price and 3-months offer price stood at US$ 2161 per tonne, up by US$ 57.50 per tonne from the previous day. However, they closed the week on Friday, February 19, lower at US$ 2150.50 per tonne.

Global Aluminium Industry Outlook 2021

The LME aluminium opening stock decreased throughout the week from 1379325 tonnes to 1354150 tonnes.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE resumed after a week-long Chinese New Year holiday on Thursday, February 18, with a jump of US$ 66 per tonne to US$ 2527 per tonne. It expanded by US$ 21 per tonne to close the week on Friday, February 19, at US$ 2548 per tonne.

Tagged with:

Price LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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