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
16 OCTOBER 2017 AL CIRCLE

LME aluminium to trade in a wide range; may retest support at US$2,130/t

EDITED BY : DIPANWITA GUPTA 2MINS READ

LME aluminium is trending high supported by a dipping dollar index, low inventory, strong demand, and positive Chinese economic data. The light metal closed higher at US$2,140 per tonne on Friday, October 13, rising from US$2,117.5 per tonne on Thursday, October 12. Shanghai Metals Market observes that the light metal contract will continue to move within the range of US$2,125-2,155 per tonne on Monday, October 16.

Reuters’ technical analysis suggests that LME aluminium may retest a support at US$2,130 per tonne; a break above the level could cause a loss toward the next support level at US$2,117 per tonne in the near term.

{alcircleadd}

As on October 13, LME official cash buyer aluminium price (Bid Price) stands at US$2,139 per tonne, cash seller & settlement aluminium price (Offer price) is US$2,140 per tonne, 3M Bid Price is US$2,160 per tonne, 3M Offer Price is US$2,160.50 per tonne, Dec1 Bid Price is US$2,208 per tonne, and Dec1 Offer Price is US$2,213 per tonne. LME aluminium Opening Stock or the LME aluminium inventory level stands at 1229750 tonnes, total Live Warrants is 969700 tonnes, and Cancelled Warrant is 260050 tonnes.              

               

SME and SHFE aluminium price trend

The benchmark aluminium price at Shanghai Metal Exchange (SME) has slipped from US$2,472 per tonne on Friday, October 13, to US$2,470 per tonne on Monday, October 16.

Base metals on SHFE mostly diverged from their LME counterparts contracts last week. SMM thinks non-ferrous metal contracts will draw support from the positive Chinese September economic data and strong ferrous metals on the bourse. The most active contract SHFE 1712 aluminium is expected to range between RMB 16,450-16,700 per tonne on Monday, October 16.   

In China’s domestic spot aluminium market, spot discounts are expected to range between RMB 100-60 per tonne over SHFE 1710 aluminium on Monday, October 16, on nearing of its delivery, SMM said.


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.