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22 NOVEMBER 2021 AL CIRCLE

LME aluminium price surges by US$53.5/t to US$2661/t after three days of decline; SHFE price soars by US$78/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

LME aluminium opened at US$2,621 per tonne last Friday and ranged between US$2,619-2,697.50 per tonne before closing at US$2,683 per tonne, an increase of US$59 per tonne or 2.25 per cent.

LME aluminium price surges by US$53.5/t to US$2661/t after three days of decline

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On Friday, November 19, LME aluminium cash (bid) price and LME official settlement price jumped by US$53.50 per tonne to settle at US$2,660.50 per tonne and US$2,661 per tonne, respectively. 3-month bid price and 3-month offer price surged by US$48 per tonne to come in at US$2,643 per tonne and US$2,644 per tonne. December 22 bid price and December 22 offer price totalled at US$2,607 per tonne and US$2,612 per tonne.

LME aluminium opening stock on November 19 stood at 948650 tonnes. Live warrants closed at 577750 tonnes, while cancelled warrants settled at 370900 tonnes.

LME aluminium 3-month Asian Reference Price amounted to US$2,683.50 per tonne, as of November 19.

Outlook for the Indian Aluminium Industry

SHFE Aluminium Price Trend

The benchmark aluminium price for SHFE opened the week on Monday, November 22, with a sharp increase of US$78 per tonne from US$2,916 per tonne to US$2,994 per tonne.

The most-traded SHFE 2201 aluminium closed up 3.36 per cent or RMB 625 per tonne to RMB 19205 per tonne, with open interest down 8779 lots to 227450 lots.

The most-traded SHFE 2201 aluminium contract opened at RMB 18,965 per tonne during last Friday’s night session, with the highest and lowest prices at RMB 19,400 per tonne and RMB 18,940 per tonne before closing at RMB 19,385 per tonne, up RMB 180 per tonne or 0.94 per cent.

Tagged with:

Price LME Aluminium futures

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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