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25 SEPTEMBER 2017 AL CIRCLE

LME aluminium to move in a narrow range at US$2,145-2,175/t

EDITED BY : DIPANWITA GUPTA 2MINS READ

LME aluminium dropped marginally on Friday, September 22 ending at US$2,137 per tonne. The earlier close was at US$2,154 per tonne. Shanghai Metals Market forecasts that the light metal contract will move narrowly within the range of US$2,145-2,175 per tonne on Monday, September 25.  

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As on September 22, LME official cash buyer aluminium price (Bid Price) stands at US$2,136 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,137 per tonne, 3M Bid Price is US$2,159 per tonne, 3M Offer Price is US$2,160 per tonne, Dec3 Bid Price is US$2,273 per tonne, and Dec3 Offer Price is US$2,278 per tonne. LME aluminium Opening Stock or the LME aluminium inventory level stands at 1294850 tonnes, total Live Warrants is 1035600 tonnes, and Cancelled Warrant is 259250 tonnes.

SME and SHFE Aluminium Price Trend

The benchmark aluminium price at Shanghai Metal Exchange (SME) has dropped from US$2,461 per tonne on Friday, September 22, to US$2,449 per tonne on Monday, September 25.

During Friday’s night trading, all base metals at Shanghai Futures Exchange rallied slightly. SMM predicts that any rebound, if happens, will be limited without a substantially big news The most active contract SHFE 1711 aluminium is expected to trade in the range of RMB 16,350-17,650 per tonne on Monday, September 25, without any immediate policy stimulus.

In east China spot aluminium market, spot discounts over SHFE 1710 aluminium are expected to range at RMB 220-180 per tonne on Monday, SMM said.  


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EDITED BY : DIPANWITA GUPTA 2MINS READ

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