Three-month LME aluminium closed higher at US$1,778/t; SHFE aluminium weakened 1.46%
The dollar rose on Thursday, taking a breather from its recent weakness. LME aluminium strengthened 0.99%.
Three-month LME aluminium ended 0.99% higher on Thursday. The price stood at US$1,778 per tonne.
As of Thursday August 6, LME aluminium cash (bid) price stands at US$ 1722 per tonne, LME official settlement price stands at US$ 1722 per tonne; 3-months bid price stands at US$ 1758.50 per tonne, 3-months offer price is US$ 1758.50 per tonne; Dec 21 bid price stands at US$ 1834.50 per tonne, and Dec 21 offer price stands at US$ 1834.50 per tonne.
The LME aluminium opening stock stood at 1632325 tonnes. Live Warrants totalled 1374550 tonnes, and Cancelled Warrants were 257775tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1768.95per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE decreased to stand at US$ 2096 per tonne on Friday, 7 August 2020.
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The most-traded SHFE 2009 aluminium contract fell to an intraday low of RMB14,420 per tonne, ending 1.46% weaker at RMB14,505 per tonne on Thursday. The contract extended earlier losses and closed 0.65% weaker at RMB14,450 per tonne overnight trading. It is expected to move between RMB14,400-14,850 per tonne today.
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