
The end of the year is seeing some substantial growth in benchmark LME prices closing at US$ 2108.50/t. LME aluminium recorded a six-week high in last night’s trading SMM expects to see rangebound trading next, at $2,130-2,160/t today.

As on December 21, LME official cash buyer aluminium price (Bid Price) stands at US$2108 per tonne, cash seller & settlement aluminium price (Offer price) is US$ 2108.50 per tonne, 3M Bid Price is US$ 2125 per tonne, 3M Offer Price is US$ 2125.50 per tonne, Dec1 Bid Price is US$ 2165per tonne, and Dec1 Offer Price is US$2,170 per tonne. LME aluminium Opening Stock or the LME aluminium inventory level stands at 1106025 tonnes, slightly down from a day earlier. Total Live Warrants is 892750 tonnes, and Cancelled Warrant is 213275 tonnes.
A rising U.S. currency will make dollar-denominated commodities more expensive for non-U.S. firms before the two-day Christmas holiday next week.
The benchmark aluminium price on Shanghai Metal Exchange has dropped from US$2,174 per tonne on December 21 to US$2,168 per tonne on December 22. Aluminium price in China is not getting support from alumina prices as the prices are still much lower.
SHFE aluminium price movement on December 21 as updated by Shanghai Metals Market was as follows:

According to SMM, the SHFE contract would stay above the 20-day moving average, trading at 14,550-14,800 yuan/mt. Spot discounts are to go deeper at RMB 300-260/t today. Analysts believe the rebound of SHFE aluminium is still uncertain as there is room for alumina prices to drop further.
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