Three-month LME aluminium dropped 0.53% on Friday; SHFE hit its highest since March 19
The US dollar edged lower last Friday, April 17. The dollar index, which tracks the greenback against a basket of other currencies, shed 0.36% on Friday and ended at 99.71, 0.22% higher on the week. LME aluminium shed 0.53% and SHFE aluminium advanced 3.2%.
Three-month LME aluminium lost gains from the Asian trading hours. It dropped from an intraday high of US$1,534 per tonne and closed at US$1,505 per tonne, down 0.53% on the day. Shanghai Metals Market expects the contract to trade at US$1,490-1,540 per tonne today.
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As of Friday, April 17, LME aluminium cash (bid) price stands at US$ 1482.50 per tonne, LME official settlement price stands at US$ 1482.50 per tonne; 3-months bid price stands at US$ 1520 per tonne, 3-months offer price is US$ 1520 per tonne; Dec 21 bid price stands at US$ 1648 per tonne, and Dec 21 offer price stands at US$ 1648 per tonne.
The LME aluminium opening stock stood at 1259150 tonnes. Live Warrants totalled 1137900 tonnes, and Cancelled Warrants were 121250 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1531.76 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE stood at US$ 1752 per tonne on Monday, 20 April 2020.
The most-traded SHFE June contract saw its gains accelerate in afternoon trade, and hit its highest since March 19 at RMB12,430 per tonne. It ended the day 3.24% higher at RMB12,410 per tonne. SMM expects the contract to trade at RMB12,300-12,480 per tonne today.
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