Three-month LME aluminium closed at US$1,721.5/t; SHFE aluminium gained 0.33%
The US dollar rose on Tuesday to its highest in nearly three years against the euro. LME aluminium added 0.3%.
Three-month LME aluminium increased 0.26% on the day at US$1,721.5 per tonne, but the increase remained capped by a strengthened US dollar. The contract is likely to trade between US$1,710-1,750 per tonne.
As on Tuesday February 18, LME aluminium cash (bid) price stands at US$ 1680.5 per tonne, LME official settlement price stands at US$ 1681 per tonne; 3-months bid price stands at US$ 1708 per tonne, 3-months offer price is US$ 1708.5 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 stood at 1177425 tonnes. Live Warrants totalled 813875 tonnes, and Cancelled Warrants were 363550 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1720.62 tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased to US$1957 per tonne Wednesday, 19 February 2020.
The most-active SHFE 2004 contract gained 0.33% on the day to end at RMB13,725 per tonne. The contract is likely to move within a range of RMB13,600-13,800 per tonne.
Hindalco reduces aluminium ingots price by 1.26% with effect from February 18
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