Three-month LME aluminium closed lower at US$1,741/t on Friday; SHFE aluminium added 0.31%
Three-month LME aluminium closed 1.28% lower at US$1,741 per tonne on Friday. Open interest increased 7,854 lots to 809,000 lots as shorts added positions. The effect of US dollar index on LME aluminium will be monitored.
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As of Friday August 14, LME aluminium cash (bid) price stands at US$ 1730 per tonne, LME official settlement price stands at US$ 1730 per tonne; 3-months bid price stands at US$ 1766 per tonne, 3-months offer price is US$ 1766 per tonne; Dec 21 bid price stands at US$ 1843 per tonne, and Dec 21 offer price stands at US$ 1843 per tonne.
The LME aluminium opening stock stood at 1594325 tonnes. Live Warrants totalled 1351000 tonnes, and Cancelled Warrants were 243325 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1769.18per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE decreased to stand at US$ 2077 per tonne on Monday, August 17 2020.
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The most-liquid SHFE 2009 aluminium contract surged more than RMB100 per tonne after the opening bell, and finished the day 0.31% higher at RMB14,405 per tonne on Friday. The contract trended lower on Friday night, and closed 0.38% weaker at RMB14,310 per tonne. It is expected to trade between RMB14,250-14,650 per tonne today.
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