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01 AUGUST 2020 AL CIRCLE

LME aluminium price trended up last week from $1661.5/t to $1685.5/t; SHFE price rallied to $2141/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium rose 0.77 per cent to end at a new more than four-month high of US$1,710 per tonne on Monday, July 27, in choppy trading. On July 28, it strengthened 0.91 per cent to end at US$ 1,725.50 per tonne, after hitting its highest in nearly five months at US$ 1,728 per tonne earlier in the session. On Wednesday, the price closed a tad firmer at US$1,727.5 per tonne, following a new five-month high of US$1,730 per tonne in the session earlier. On Thursday, three-month LME aluminium weakened 0.17% to US$1,724.5 per tonne.

LME aluminium price trended up last week from $1661.5/t to $1685.5/t; SHFE price rallied to $2140/t

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Both LME aluminium cash (bid) price and LME official settlement price trended up this week during July 27-31 from US$ 1661.50 per tonne to US$ 1685.50 per tonne. Starting the week on Monday, July 27 at US$ 1661.50 per tonne, the prices moved up to US$ 1671 per tonne on Tuesday, July 28. Extending the hike further, the LME aluminium cash (bid) price and LME official settlement price stood at US$ 1687 per tonne on Wednesday, July 29. On July 30, the prices faced an intermitted fall of US$ 5.5 per tonne to stand at US$ 1681.50 per tonne. However, on July 31, they rebounded at US$ 1685.50 per tonne.

 3-months bid price and 3-months offer price also recorded a hike this week from US$ 1700.50 per tonne to US$ 1722 per tonne, with an intermitted fall on Thursday, July 30, from US$ 1726.50 per tonne to US$ 1719 per tonne. Dec 21 bid price and Dec 21 offer price rallied by US$ 11.50 per tonne from US$ 1784.50 per tonne to US$ 1796 per tonne.

The LME aluminium opening stock decreased over the week from 1668500 tonnes on July 27 to 1637425 tonnes on July 31. Live Warrants hovered between 1388025 tonnes and 1382325 tonnes, while Cancelled Warrants between 280475 tonnes and 255100 tonnes.

Energy Consumption in Aluminium Smelting

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE increased throughout the week from US$ 2063 per tonne to US$ 2,140 per tonne. Starting the week at US$ 2063 per tonne on Monday, July 27, the price on Tuesday, July 28, rose to US$ 2077 per tonne. On July 29, it increased further to 2094 per tonne, which on July 30 stood up at US$ 2131 per tonne. On Friday, July 31, the SHFE aluminium price closed at US$ 2141 per tonne.

Tagged with:

Price LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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