
The US dollar index declined on Tuesday, 25 February 2020. The dollar index, which tracks the greenback against a basket of other currencies, dipped 0.3% and ended at 98.97. LME base metals traded mostly higher. LME aluminium gained 0.2%.
Three-month LME aluminium rebounded on short-covering, hitting a session high of US$1,715 per tonne and closed up 0.18% on the day at US$1,702 per tonne. The contract is likely to trade between US$1,680-1,720 per tonne today.
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As on Tuesday February 25, LME aluminium cash (bid) price stands at US$ 1683 per tonne, LME official settlement price stands at US$ 1685 per tonne; 3-months bid price stands at US$ 1704 per tonne, 3-months offer price is US$ 1705 per tonne; Dec 21 bid price stands at US$ 1835 per tonne, and Dec 21 offer price stands at US$ 1840 per tonne.
The LME aluminium opening stock dropped to 1115400 tonnes. Live Warrants totalled 799050 tonnes, and Cancelled Warrants were 316350 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1703.24 tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased to US$1916 per tonne on Wednesday, 26 February 2020.
The most-active SHFE 2004 contract rallied from a new one-year low of RMB13,445 per tonne to settle the day 0.22% stronger at RMB13,535 per tonne. The contract is expected to trade at RMB13,400-13,700 per tonne.
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