Adv
LANGUAGES
English
Hindi
Spanish
French
German
Chinese_Simplified
Chinese_Traditional
Japanese
Russian
Arabic
Portuguese
Bengali
Italian
Dutch
Greek
Korean
Turkish
Vietnamese
Hebrew
Polish
Ukrainian
Indonesian
Thai
Swedish
Romanian
Hungarian
Czech
Finnish
Danish
Filipino
Malay
Swahili
Tamil
Telugu
Gujarati
Marathi
Kannada
Malayalam
Punjabi
Urdu
12 SEPTEMBER 2018 AL CIRCLE

LME aluminium recovers with the resumed NAFTA negotiations; SHFE flat on low consumption

EDITED BY : BEETHIKA BISWAS 2MINS READ

The US dollar fell against the Canadian dollar, which was buoyed by a resumed North American Free Trade Agreement (NAFTA) negotiation between the two counties on Tuesday. The US dollar inched down 0.08% to settle at 95.07. 

LME aluminium recovered from Monday’s low run and settled at US$ 2035 per tonne on Tuesday September 12.  It started gaining overnight with rising dollar but slumped to a low of US$2,042 per tonne amid falling base metals contracts during the European trading session. It closed at US$2,050 per tonne. Limited downward room is expected as costs of raw materials are high. Its trading range is set at US$2,040-2,065 per t today.

{alcircleadd}

As on September 11, LME aluminium cash (bid) price stands at US$ 2034 per tonne, LME official settlement price stands at US$ 2035 per tonne; 3-months bid price stands at US$ 2073 per tonne, 3-months offer price is US$ 2074 per tonne; Dec 19 bid price stands at US$ 2103 per tonne, and Dec 19 offer price stands at US$ 2108 per tonne. 

The LME aluminium opening stock dropped to 1054525 tonnes. Live Warrants totalled at 764200 tonnes, and Cancelled Warrants were 290325 tonne.

LME aluminium 3-months Asian Reference Price is hovering at US$ 2090.40 per tonne.

SME and SHFE Aluminium Price Trend

The benchmark aluminium price on Shanghai Metal Exchange registered a slight drop to stand at US$ 2109  today from US$ 2131 per tonne on September11. 

While the SHFE 1811 contract ended in the black and stood firmly above the five-day moving average, it closed lower than open prices yesterday, with limited upward momentum. Weak downstream consumption and uncertainty over winter production cuts weighed on aluminium prices even as potential Rusal output cuts provided some support. The SHFE 1811 contract met resistance at the 40- and five- day moving averages and settled at RMB 14,620 per tonne today morning. It may trade at RMB 14,580-14,720 per tonne today with spot offers at a discount of RMB 30 per tonne to a premium of RMB 10 per tonne. 

 


Adv
Adv
Adv
Adv
Adv
Adv
Adv
EDITED BY : BEETHIKA BISWAS 2MINS READ

Responses

Adv
Adv
Adv
Loading...
Adv
Adv
Adv
Loading...
Reports VIEW ALL
Loading...
Loading...
Business Leads VIEW ON AL BIZ
Loading...
Adv
Adv
Would you like to be
featured with us?
Loading...

AL Circle: Aluminium Ecosystem App

A proud
ASI member
© 2026 AL Circle. All rights reserved. AL Circle is not responsible for content from external sources.