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16 AUGUST 2021 AL CIRCLE

Three-month LME aluminium closed higher at US$2577.50/t; SHFE price rose to US$3133/t

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Three-month LME aluminium rose 1.40 per cent to close at US$ 2,577.50 per tonne in the overnight trading of last Friday, and is expected to trade between US$ 2,540-2,620 per tonne today.

Three-month LME aluminium closed higher at US$2577.50/t; SHFE price rose to US$3133/t

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LME aluminium cash (bid) price and LME official settlement price inched up marginally by US$ 0.50 per tonne to stand at US$ 2,602.50 per tonne on Friday, August 13. But 3-months bid price and 3-months offer price decreased considerably from US$ 2,600 per tonne to US$ 2,592 per tonne. Dec 22 bid price and Dec 22 offer price hovered around US$ 2,554 per tonne, down by US$ 23.50 per tonne on August 12.

LME aluminium opening stock decreased from 1333575 tonnes to 1323825 tonnes. Live Warrants stood at 834950 tonnes, while Cancelled Warrants totalled 488875 tonnes.

LME aluminium 3-months Asian Reference Price settled at US$ 2,591.73 per tonne as of August 13.

Outlook for the Indian Aluminium Industry

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE gained US$ 43 per tonne to open the week on Monday, August 16, at US$ 3,133 per tonne.

The most-traded SHFE 2109 aluminium closed up 0.1 per cent to RMB 20,130 per tonne, with open interest down 313 lots to 246000 lots. 

The most-liquid SHFE 2109 aluminium contract went up 0.87 per cent to settle at RMB 20305 per tonne in the overnight trading last Friday, with open interest up 9,139 lots to 255,000 lots. SHFE aluminium is expected to trade between RMB 20,100-20,500 per tonne today, and aluminium spot is likely to trade at discounts between RMB 50-10 per tonne in east China.

Tagged with:

Aluminium Price LME

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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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