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
25 JANUARY 2017 AL CIRCLE

LME aluminium remains flat while SME aluminium gains strength from a weak dollar

EDITED BY : DIPANWITA GUPTA 2MINS READ

LME aluminium price remained unchanged yet firm at US$1,870 per tonne on Tuesday on speculations that aluminium producers in major China markets would cut output to cope with increasing air pollution. Shanghai Metals Market went on to explain that rising production cost, tax burden, entry of low-cost capacities and exit of domestic high-cost producers, and supply surplus of aluminium along with proliferating aplications were the factors responsible for the rumoured production cut. However, according to today's SMM morning forecast, LME aluminium will stay firm at US$1,850-1,890 per tonne on Wednesday.

As on January 24, LME official cash buyer price of aluminium stands at US$1,869 per tonne, cash seller & settlement price is US$1,870 per tonne, 3M buyer price is US$1,867 per tonne, 3M seller price is US$1,867.5 per tonne, Dec1 buyer price is US$1,893 per tonne, and Dec1 seller price is US$1,898 per tonne. The current LME official Opening Stock of aluminium is estimated at 2289275 tonnes, total Live Warrants is 1625925 tonnes, and Cancelled Warrant is 658800 tonnes.

News
In China, the benchmark price of aluminium on Shanghai Metal Exchange stands at US$1,987 per tonne on Wednesday, up 0.96 per cent from US$1,968 per tonne on Tuesday.   

SHFE 1703 aluminium traded on Shanghai Futures Exchange opened at RMB 13,700 per tonne on Tuesday and then finished lower at RMB 13,670 per tonne as trading volumes fell 252,000 to 224,188 and positions dropped 22,314 to 272,582. SMM says the contract will gain momentum and move "narrowly at highs" over the short term.

Spot aluminium in China’s domestic market is estimated to trade at discounts of RMB 240-2000 per tonne on Wednesday.   

{googleAdsense}

According to SMM, base metals prices on SHFE will continue to diverge even on Thursday.

“A weak dollar after US new president and Secretary of the Treasury’s comments will continue supporting base metals, and meanwhile, price divergence will be continuing on the SHFE,” predicts SMM.

Tagged with:

Aluminium Price SMM LME China

Adv
Adv
Adv
Adv
Adv
Adv
Adv
EDITED BY : DIPANWITA GUPTA 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.