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12 NOVEMBER 2021 AL CIRCLE

LME aluminium price surges by US$91.5/t to close at US$2645.5/t; SHFE price exceeds US$3000/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium opened at US$2,575 per tonne on November 11 and closed at US$2,657 per tonne, an increase of US$79 per tonne or 3.06 per cent.

LME aluminium price surges by US$91/t to close at US$2645/t; SHFE price exceeds US$3000/t

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On Thursday, November 11, LME aluminium cash (bid) price and LME official settlement price surged by US$92 per tonne and US$91.50 per tonne, respectively, to close at US$2,645 per tonne and US$2,645.50 per tonne. 3-month bid price and 3-month offer price moved up by US$82 per tonne and US$80.50 per tonne to come in at US$2,655 per tonne and US$2,655.50 per tonne. December 22 bid price and December 22 offer price totalled US$2,620 per tonne and US$2,625 per tonne, respectively.

LME aluminium opening stock on November 11 decreased to 982025 tonnes. Live warrants closed at 595825 tonnes, while cancelled warrants settled at 386200 tonnes.

LME aluminium 3-month Asian Reference Price remained restrained at US$2,576.61 per tonne on November 11.

Outlook for the Indian Aluminium Industry

SHFE Aluminium Price Trend

On Friday, November 12, the benchmark aluminium price for SHFE further grew to exceed US$3,000 per tonne. As per the data, the price rose by US$91 per tonne to close at US$3,042 per tonne.

The most-traded SHFE 2112 aluminium closed up 3.2 per cent or RMB 600 per tonne to RMB 19,370 per tonne, with open interest down 12447 lots to 181785 lots.

Overnight, the most-traded SHFE 2112 aluminium contract opened at RMB 19,600 per tonne and closed at RMB 19,510 per tonne, up RMB 140 per tonne or 0.72 per cent.

Tagged with:

Price LME Aluminium

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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