LME three-month aluminium ended down 0.63% on the day at US$1,661.5/t; SHFE closed at RMB12,870/t
The US dollar rose sharply on Thursday, 12 March. The dollar index, which tracks the greenback against a basket of other currencies, increased to the highest level in two weeks at 98.33. LME base metals fell across the board on Thursday. LME aluminium eased 0.63%.
LME three-month aluminium slipped to a session low of US$1,652 per tonne, before it ended down 0.63% on the day at US$1,661.5 per tonne. LME aluminium is likely to trade between US$1,640-1,690 per tonne today.
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As on Thursday March 12, LME aluminium cash (bid) price stands at US$ 1642 per tonne, LME official settlement price stands at US$ 1643 per tonne; 3-months bid price stands at US$ 1657 per tonne, 3-months offer price is US$ 1658 per tonne; Dec 21 bid price stands at US$ 1760 per tonne, and Dec 21 offer price stands at US$ 1765 per tonne.
The LME aluminium opening stock stood at 994675 tonnes. Live Warrants totalled 797800 tonnes, and Cancelled Warrants were 196875 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1666.76 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE decreased from US$1831 per tonne to US$1810 per tonne on Friday, 13 March 2020.
The most-active SHFE 2005 contract eased to its lowest since January 2017 at RMB12,825 per tonne in morning trade. It closed at RMB12,870 per tonne. The contract is expected to trade at RMB12,600-12,900 per tonne.
A00 aluminium ingot price continues to drop for the third consecutive day on further rise in inventories this week
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