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
27 AUGUST 2019 AL CIRCLE

LME remained closed on August 26 for Summer Bank Holiday; SHFE aluminium closed flat on easing of trade tension

EDITED BY : BEETHIKA BISWAS 2MINS READ

The US dollar recovered on Monday from overnight losses after the US and China sought to ease trade war tensions. President Donald Trump said negotiations with Chinese officials would restart soon. Vice Premier Liu He, who has been leading the talks with Washington, said China was willing to resolve the trade dispute through “calm” negotiations.

The dollar index edged up and finished at 98.38. SHFE metals ended higher for the most part while the London Metal Exchange remained closed on August 26 for Summer Bank Holiday. SHFE aluminium ended flat yesterday night.

{alcircleadd}

Three-month LME aluminium rebounded swiftly after the announcement of higher Chinese tariffs on American goods depressed base metal prices on Friday. It edged higher on the day and closed at RMB 1,767 per tonne on Friday night. The trading range is expected at US$1,700-1,780 per tonne today.

LME

SME and SHFE Aluminium Price Trend

The benchmark aluminium price on Shanghai Metal Exchange (SME) has dropped to stand at US$ 1986 per tonne today from US$ 1991 per tonne on Monday.

The most traded SHFE 1910 contract dropped to a low of RMB 14,210 per tonne shortly opening bell, as investors trimmed their positions on profit-taking and trade escalation. It finished the trading day 0.49% lower at RMB 14,215 per tonne. The October contract then pared gains after it advanced to a high of RMB 14,265 per tonne settling flat on the day at RMB 14,215 per tonne.  Smaller arrivals lowered social inventories of primary aluminium by some 20,000 tonne over the weekend, and this boosted confidence in longs. Expectations of the upcoming high season demand may keep the contract between RMB 14,190-14,250 per tonne today. 

SMM data showed that social inventories of primary aluminium ingots shrank 20,000 tonne over the weekend, as the low season drew to an end. This pointed to robust fundamentals, which will likely bolster prices.

Tagged with:

LME Price Aluminium

Adv
Adv
Adv
Adv
Adv
Adv
Adv
EDITED BY : BEETHIKA BISWAS 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.