
The US dollar declined throughout the week. The dollar index, which tracks the greenback against a basket of other currencies, stood at 99.501 on Wednesday, April 29.
Benchmark aluminium price on London Metal Exchange decreased from US$ 1472.5 per tonne on Monday, April 27, to US$ 1440 per tonne on Friday, May 1.
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LME aluminium cash (bid) price and LME official settlement price showed a downtrend too this week. On Monday, April 27, they stood at US$ 1472.50 per tonne, which on April 28, declined to US$ 1465 per tonne. On Wednesday, April 29, the price stood further down at US$ 1464 per tonne, and on Thursday, April 30, at US$ 1460.5 per tonne. Extending the downfall further on Friday, May 1, both LME aluminium cash (bid) price and LME official settlement price came in at US$ 1440 per tonne. 3-months bid price and 3-months offer price also declined throughout the week ranging between US$ 1509.5 per tonne and US$ 1477.5 per tonne. Dec 21 bid price and Dec 21 offer price plunged too from US$ 1629.50 per tonne on April 27 to US$ 1600.50 per tonne on May 1.
The LME aluminium opening stock displayed an upward trend from 1336775 tonnes on Monday to 1356150 tonnes on Friday. On Tuesday, April 28, the stock stood at 1347000 tonnes, up 9150 tonnes from the previous day. On Wednesday, April 29, however, the stock remained flat at 1346775 tonnes, followed by a marginal dip to 1346200 tonnes on Thursday, April 30. On Friday, May 1, it increased 9950 tonnes straight and came in at 1356150 tonnes. Live Warrants and Cancelled Warrants ranged between 1186950-1187150 tonnes and 149825-169000 tonnes, respectively.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE stood at US$ 1,756 per tonne on Monday, April 27, and grew to US$ 1,763 per tonne on Tuesday, April 28. On Wednesday and Thursday, the price increased further to US$ 1,788 per tonne and US$ 1,800 per tonne, respectively. On Friday, May 1, the Shanghai Futures Exchange was closed for the Labour Day holidays.
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