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09 OCTOBER 2017 AL CIRCLE

LME aluminium to fluctuate widely within US$2,135-2,165/t

EDITED BY : DIPANWITA GUPTA 2MINS READ

LME aluminium is on a moderate uptrend. The light metal contract ended last week in a marginal drop from its earlier close at US$2,124 per tonne on Thursday, October 5. The closing price for LME aluminium on Friday, October 6, was US$2,121 per tonne. Shanghai Metals Market (SMM) forecasts that LME aluminium will fluctuate widely within the range of US$2,135-2,165 per tonne around its 5 and 20-day moving averages on Monday, October 9.

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Source:www.lme.com

As on October 6, LME official cash buyer aluminium price (Bid Price) stands at US$2,121 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,121.50 per tonne, 3M Bid Price is US$2,145 per tonne, 3M Offer Price is US$2,146 per tonne, Dec1 Bid Price is US$2,190 per tonne, and Dec1 Offer Price is US$2,195 per tonne. LME aluminium Opening Stock or the LME aluminium inventory level stands at 1246875 tonnes, total Live Warrants is 1002825 tonnes, and Cancelled Warrant is 244050 tonnes.

The benchmark aluminium price at Shanghai Metal Exchange (SME) has edged higher from US$2,148 per tonne on Friday, October 6, to US$2,429.34 per tonne on Monday, October 9.

Shanghai Futures Exchange is resuming trading today. SHFE aluminium is expected to open higher after the National Day holidays in China, SMM said. It is expected to range between RMB 16,400-16,600 per tonne on Monday, October 9.

Driven by stockpiling demand from the downstream sector post holidays, spot discounts on SHFE aluminium are expected to range between RMB 170-130 per tonne on Monday.

Tagged with:

Price LME Inventory SMM

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EDITED BY : DIPANWITA GUPTA 2MINS READ

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