
The US dollar rose to a four-month peak against of basket of major currencies on Friday. LME base metals fell across the board. LME aluminium fell 1.12%.
Three-month LME aluminium pared some losses after slipped to an intraday low of US$1,706.5 per tonne on loaded-up shorts. It closed 1.12% lower at US$1,721 per tonne. The contract is likely to move at US$1, 700-1,760 per tonne today.
{alcircleadd}As on Friday February 7, LME aluminium cash (bid) price stands at US$ 1693 per tonne, LME official settlement price stands at US$ 1693.5 per tonne; 3-months bid price stands at US$ 1720.5 per tonne, 3-months offer price is US$ 1721 per tonne; Dec 21 bid price stands at US$ 1850 per tonne, and Dec 21 offer price stands at US$ 1855 per tonne.
The LME aluminium opening stock decreased to 1242950 tonnes. Live Warrants totalled 838600 tonnes, and Cancelled Warrants were 404350 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1745.50 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE decreased to US$1951 per tonne on Monday, 10 February 2020.
The most-active SHFE 2003 contract gained for the fourth consecutive day and closed up 0.48% on Friday at RMB13,725 per tonne, but this failed to regain all losses on Monday. SHFE aluminium is likely to trade at RMB13,500-13,800 per tonne today.
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