Three-month LME aluminium decreased to close at US$1,554.5/t; SHFE ended 0.53% higher
The US dollar fell against a basket of currencies on Tuesday. LME aluminium and lead, closed lower overnight. The SHFE kept its night trading session suspended.
Three-month LME aluminium weakened in a volatile trading session and ended at US$1,554.5 per tonne. Shanghai Metals Market expects the contract to trade at US$1,540-1,600 per tonne today.
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As on Tuesday March 24, LME aluminium cash (bid) price stands at US$ 1532.50 per tonne, LME official settlement price stands at US$ 1532.50 per tonne; 3-months bid price stands at US$ 1567.50 per tonne, 3-months offer price is US$ 1567.50 per tonne; Dec 21 bid price stands at US$ 1685.50 per tonne, and Dec 21 offer price stands at US$ 1685.50 per tonne.
The LME aluminium opening stock stood at 1100675 tonnes. Live Warrants totalled 929675 tonnes, and Cancelled Warrants were 171000 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1556.33 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased from US$1603 per tonne to US$1613 per tonne on Wednesday, 25 March 2020.
The most-traded SHFE contract trimmed increase from the early session as it came off from an intraday high of RMB 11,510 per tonne, ending 0.53% higher on the day at RMB 11,435 per tonne. The contract is likely to move between RMB11,400-12,000 per tonne.
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