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22 JANUARY 2018 AL CIRCLE

LME aluminium registers gain to US$ 2,256 per tonne on Friday January 19, SHFE falls short

EDITED BY : BEETHIKA BISWAS 2MINS READ

LME aluminium managed to hold grounds as it registered a must awaited gain to stand at US$ 2,256 per tonne on Friday January 19 from 2,225 per tonne on Thursday January 18. Shanghai Metals Market analysis sees LME aluminium trading at $2,200-2,230 per tonne today, after the historical data showed a dip in LME aluminium prices following US government shutdowns from 1990.

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As on January 19, LME official cash buyer aluminium price (Bid Price) stands at US$ 2255per tonne, cash seller & settlement aluminium price (Offer price) is US$ 2256per tonne, 3M Bid Price is US$ 2253per tonne, 3M Offer Price is US$ 2254 per tonne, Dec1 Bid Price is US$ 2298 per tonne, and Dec1 Offer Price is US$ 2303 per tonne. LME aluminium opening stock stands at 1091850 tonnes, up from last closing. Total Live Warrants is 843050 tonnes and Cancelled Warrants 248800 tonnes.

The Asian reference price for LME aluminium (3-months ABR) is US$ 2252.70 per tonne.

SME and SHFE Aluminium Price Trend

The benchmark aluminium price on Shanghai Metal Exchange has dropped from US$2,261 per tonne on January 19 to US$2247 per tonne on January 22. On Shanghai Futures Exchange, SHFE aluminium price movement on January 22, as updated by Shanghai Metals Market, was as follows:   

SHFE aluminium is expected to trade at 14,500-14,700 yuan/mt today. Spot discounts are expected at RMB 210-170 per tonne.

 

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EDITED BY : BEETHIKA BISWAS 2MINS READ

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