Three-month LME aluminium climbed higher at US$1,990/t; SHFE aluminium jumped 2.63%
Three-month LME aluminium increased 0.4% to close at US$1,990 per tonne on Wednesday, with open interest falling to 728,000 lots. SMM expects the contract to trade between US$1,970-2,020 per tonne today.
As of Wednesday November 18, LME aluminium cash (bid) price stands at US$ 1978 per tonne, LME official settlement price stands at US$ 1978 per tonne; 3-months bid price stands at US$ 1994 per tonne, 3-months offer price is US$ 1994 per tonne; Dec 21 bid price stands at US$ 2011per tonne, and Dec 21 offer price stands at US$ 2011per tonne.
The LME aluminium opening stock stood at 1409575 tonnes. Live Warrants totalled 1240775 tonnes, and Cancelled Warrants were 168800 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1985.02per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased to stand at US$ 2406 per tonne on Thursday, 19 November 2020.
The most-traded SHFE 2012 aluminium contract rose 2.63% to end the day at RMB15,785 per tonne on Wednesday, with trading volume expanding 43,727 lots to 147,000 lots. The aluminium contract climbed 0.57% to settle at RMB15,875 per tonne on Wednesday night. It is likely to trade between 15,600-16,000 per tonne today.
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