
The US dollar rose a four-week high against a basket its rivals on Friday. LME base metals closed mixed on Friday. LME aluminium shed 0.2% and SHFE aluminium lost 0.3%.
LME aluminium gained to close Friday’s trading 0.11% higher at US$1,796/t on Friday. Three-month LME aluminium ended at US$1,805.5 per tonne on Friday, down 0.19%. LME aluminium is expected to remain rangebound today, between US$1,790-1,820 per tonne.
{alcircleadd}
As on Friday January 17, LME aluminium cash (bid) price stands at US$ 1795.5 per tonne, LME official settlement price stands at US$ 1796 per tonne; 3-months bid price stands at US$ 1807.5 per tonne, 3-months offer price is US$ 1808 per tonne; Dec 20 bid price stands at US$ 1937 per tonne, and Dec 20 offer price stands at US$ 1942 per tonne.
The LME aluminium opening stock stood at1340725tonnes. Live Warrants totalled at 669325 tonnes, and Cancelled Warrants were 671400 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1812 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE (Shanghai Future Exchange) decreased to US$2098 per tonne on Monday, 20 January 2020.
The most-traded SHFE 2003 contract hovered at high levels above the Bollinger upper band, with support from loaded-up longs even as short positions also built up. Smaller-than-expected accumulation in social inventories of primary aluminium lifted morales of bullish positions, according to an SMM.
The most traded SHFE 2003 contract traded lower at RMB14,245 per tonne in Friday night’s trading. The contract is likely to move at RMB14,200-14,350 per tonne today, with spot premiums at RMB60-100 per tonne over the SHFE 2002 contract.
Responses







