Three-month LME aluminium closed the day 0.64% higher; SHFE aluminium fell 0.8%
The US dollar fell from two-week highs on Thursday, May 7. LME base metals extended their increase for the most part. LME aluminium advanced 0.64% and SHFE aluminium shed 0.52%.
Three-month LME aluminium closed the day 0.64% higher at US$1,492 per tonne. LME aluminium is still under pressure from US$1,500 per tonne in the short term.
As of Thursday, May 7, LME aluminium cash (bid) price stands at US$ 1450 per tonne, LME official settlement price stands at US$ 1450 per tonne; 3-months bid price stands at US$ 1486.50 per tonne, 3-months offer price is US$ 1486.50 per tonne; Dec 21 bid price stands at US$ 1613.50 per tonne, and Dec 21 offer price stands at US$ 1613.50 per tonne.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1482.21 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE decreased to stand at US$ 1799 per tonne on Friday, 08 May 2020.
The most-liquid SHFE July contract lost 0.8% on the day to end at RMB12,460 per tonne on Thursday. The SHFE June contract ended down 0.94% on the day at RMB12,620 per tonne. Shanghai Metals Market expect the contract to trade at RMB12,300-12,600 per tonne today.
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