
Three-month LME aluminium climbed 2.44 per cent to close at US$ 1,848 per tonne on last Friday, with open interest falling to 743,000 lots. It is expected to trade between US$ 1,820-1,870 per tonne today.

LME aluminium cash (bid) price and LME official settlement price rebounded on Friday, October 30, to stand at US$ 1,820.50 per tonne. 3-months bid price and 3-months offer price jumped from US$ 1,795.50 per tonne to US$ 1,823.50 per tonne. Dec 21 bid price and Dec 21 offer price stood at US$ 1,869 per tonne, an increase of US$ 25.50 per tonne from US$ 1,843.50 per tonne.
The LME aluminium opening stock increased marginally from 1462750 tonnes to 1462925 tonnes. Live Warrants stood at 1219725 tonnes, while Cancelled Warrants at 243200 tonnes.
LME aluminium 3-months Asian Reference Price came in at US$ 1,803.00 per tonne, as of October 30.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased for the second consecutive day to stand at US$ 2,223 per tonne on Monday, November 2, 2020.
The most-liquid SHFE 2012 aluminium contract climbed to an intraday high of RMB 14,775 per tonne after opening and finished the day 0.07% higher at RMB 14,370 per tonne. Open interest increased by 4,149 lots to 106,264 lots. The contract still has upward room.
The most-liquid SHFE 2011 aluminium contract rose 1.98 per cent to settle at RMB 14,655 per tonne on Friday night, and is likely to trade between RMB 14,400-14,800 per tonne today.
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