
The US dollar erased earlier losses to trade largely flat against a basket of currencies on Wednesday. LME aluminium sank 0.2% and SHFE aluminium firmed 0.3%.
Three-month LME aluminium hit an intraday high of US$1,486 per tonne before easing to close down 0.24% at US$1,476 per tonne. LME aluminium is expected to move at US$1,460-1,500 per tonne today.
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As of Wednesday May 13, LME aluminium cash (bid) price stands at US$ 1439 per tonne, LME official settlement price stands at US$ 1439 per tonne; 3-months bid price stands at US$ 1476.50 per tonne, 3-months offer price is US$ 1476.50 per tonne; Dec 21 bid price stands at US$ 1604.50 per tonne, and Dec 21 offer price stands at US$ 1604.50 per tonne.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1478.84 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased to stand at US$ 1803 per tonne on Thursday, 14 May 2020.
The most-liquid SHFE contract finished the day 0.12% lower at RMB12,495 per tonne, following an intraday high of RMB12,525 per tonne near closing.
The most active SHFE July contract slipped in overnight trading, erasing gains from a higher open to end up 0.32% to RMB12,440 per tonne. The contract has been trading rangebound after returning from the Labour Day holiday. Shanghai Metals Market expect the contract to move at RMB12,300-12,600 per tonne today.
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