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19 OCTOBER 2020 AL CIRCLE

Three-month LME aluminium climbed to the highest since April at $1,872.5/t; SHFE rebounded to $2217/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium stood at US$ 1,872.5 per tonne on Friday, October 16, the highest since April 2020, before paring some gains to end 0.49 per cent higher at US$ 1,863.5 per tonne. It is expected to move between US$ 1,840-1,880 per tonne today.

Three-month LME aluminium climbed to the highest since April at $1,872.5/t; SHFE rebounded to $2217/t

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Both LME aluminium cash (bid) price and LME official settlement price jumped from US$ 1824 per tonne to US$ 1865.50 per tonne, as of Friday, October 16, after two consecutive downfalls on the previous two days. 3-months bid price and 3-months offer price stood at US$ 1863.50 per tonne, up by US$ 24 per tonne from US$ 1839.50 per tonne on October 15. Dec 21 bid price and Dec 21 offer price increased from US$ 1896 per tonne to US$ 1910 per tonne.

The LME aluminium opening stock extended decline 1407025 tonnes to 1406575 tonnes. Live Warrants stood at 1133725 tonnes, while Cancelled Warrants at 272850 tonnes.

LME aluminium 3-months Asian Reference Price came in at US$ 1854.50 per tonne, as of October 16.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE rebounded to US$ 2217 per tonne on Monday, October 19, after a decline from US$ 2218 per tonne to US$ 2185 per tonne on Friday, October 16, 2020.

aluminium

The most-liquid SHFE 2011 aluminium contract climbed to an intraday high of RMB 14,780 per tonne and closed up 0.34 per cent at RMB 14,710 per tonne. Open interest rose from 2,275 lots to 129,298 lots.

The most-liquid SHFE 2011 aluminium contract increased by1.23 per cent to close at RMB 14,855 per tonne on Friday night, and is likely to trade between RMB 14,600-15,000 per tonne today.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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