Three-month LME aluminium closed 0.82% higher; SHFE aluminium jumped 2%
The US dollar slipped on Monday. LME and SHFE base metals closed higher across the board last night. LME aluminium added 0.82% and SHFE aluminium gained 1.54%.
Three-month LME aluminium traded robustly and broke up US$1,600 per tonne overnight. It ended 0.82% higher on the day at US$1,605 per tonne.
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As of Monday June 8, LME aluminium cash (bid) price stands at US$ 1569.50 per tonne, LME official settlement price stands at US$ 1569.50 per tonne; 3-months bid price stands at US$ 1596 per tonne, 3-months offer price is US$ 1596 per tonne; Dec 21 bid price stands at US$ 1700 per tonne, and Dec 21 offer price stands at US$ 1700 per tonne.
The LME aluminium opening stock stood at 1525650 tonnes. Live Warrants totalled 1314575 tonnes, and Cancelled Warrants were 211075 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1596.53 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased to stand at US$ 1961 per tonne on Tuesday, 09 June 2020.
The most-liquid SHFE July contract scaled its highest since March 3 at RMB13,450 per tonne in afternoon trade. It closed up 2.01% at RMB13,420 per tonne on Monday. The contract finished last night higher at RMB13,540 per tonne. Shanghai Metals Market expects the contract to move at RMB13,400-13,800 per tonne.
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