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
14 FEBRUARY 2017 AL CIRCLE

LME aluminium to rise further; Price divergence forecasted for Shanghai metals

EDITED BY : DIPANWITA GUPTA 2MINS READ

LME aluminium is continuing its uptrend. Even as the US dollar firmed up following the successful summit meeting between Japan's Prime Minister Shinzo Abe and Donald Trump the lightmetal traded on LME has shown little signs of decline. The contract after opening lower on Monday, February 13, gained strength and closed at US$1,867.50 per tonne after night trading, up one per cent from the previous closing of US$1,849 on Friday, February 10. Shanghai Metals Market (SMM) in its forecast said, LME aluminium will hover at US$1,860-1,900 per tonne on Tuesday, February 14, with mixed factors.

As on February 13, LME official cash buyer price of aluminium stands at US$1,867 per tonne, cash seller & settlement price is US$1,867.50 per tonne, 3M buyer price is US$1,871 per tonne, 3M seller price is US$1,872 per tonne, Dec1 buyer price is US$1,918 per tonne, and Dec1 seller price is US$1,923 per tonne. The current LME official Opening Stock of aluminium is estimated at 2225850 tonnes, total Live Warrants is 1648675 tonnes, and Cancelled Warrant is 577175 tonnes.

News
In China, the benchmark price of aluminium on Shanghai Metal Exchange (SME) has scaled further higher at US$2,006 per tonne on Tuesday against US$1,980 per tonne on Monday (+1.31 per cent).

Aluminium contract traded on Shanghai Futures Exchange- SHFE 1704 aluminum opened at RMB 14,020 per tonne on Monday and then after fluctuating throughout the day closed down at RMB 14,035 per tonne. SMM says SHFE 1704 aluminum will be largely affected by other metals on the board. The contract is likely to move in the range of RMB 14,000-14,250 per tonne on Tuesday.

Spot aluminium in China's domestic market is expected to trade at discounts of RMB 220-180 per tonne on Tuesday.    

{googleAdsense}

Base metals including aluminium are forecasted to continue diverging in the near term. “The US dollar is expected to keep advancing, and price divergence among base metals is expected to be accelerating,” says SMM.


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.