Three-month LME aluminium closed 0.84% weaker at US$1,710/t; SHFE ended 0.24% lower

US dollar plunged last week. Nonferrous metals prices on the LME were mixed on Friday July 31. LME aluminium fell 0.84%.

Three-month LME aluminium closed 0.84% weaker at US$1,710 per tonne on Friday in choppy trading.

As of Friday July 31, LME aluminium cash (bid) price stands at US$ 1685.50 per tonne, LME official settlement price stands at US$ 1685.50 per tonne; 3-months bid price stands at US$ 1722 per tonne, 3-months offer price is US$ 1722 per tonne; Dec 21 bid price stands at US$ 1796 per tonne, and Dec 21 offer price stands at US$ 1796 per tonne.

The LME aluminium opening stock stood at 1637425 tonnes. Live Warrants totalled 1382325 tonnes, and Cancelled Warrants were 255100 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1727.51per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE decreased to stand at US$ 2126 per tonne on Monday, 03 August 2020

The most-liquid SHFE 2009 aluminium contract surged to a session-high of RMB14,770 per tonne, ending 0.24% lower at RMB14,685 per tonne on Friday.  

The contract ended 0.61% lower at RMB14,590 per tonne on Friday night. It is expected to move between RMB14,450-14,800 per tonne today.