
The US dollar fell on Thursday. The dollar index, which tracks the greenback against a basket of other currencies, dipped 0.15% and ended at 98.17. LME base metals and the SHFE complex, except for tin, closed lower overnight. LME aluminium fell 1.05% and SHFE aluminium dipped 0.11%.
LME aluminium closed 0.68% lower at US$ 1756 per tonne on Thursday. Three-month LME aluminium fell to the lowest this month at US$1,742.5 per tonne on reports that LME aluminium inventories increased over 75,000 tonnes to the highest since August 2, at 1.02 million tonnes. LME aluminium is likely to trade within US$1747-1,770 per tonne today.
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As on November 14, Thursday, LME aluminium cash (bid) price stood at US$1755.50 per tonne, LME official settlement price stands at US$ 1756 per tonne; 3-months bid price stands at US$ 1758 per tonne, 3-months offer price is US$ 1759 per tonne; Dec 20 bid price stands at US$ 1828 per tonne, and Dec 20 offer price stands at US$ 1833 per tonne.
The LME aluminium opening stock increased to 1020975 tonnes. Live Warrants totalled at 870250 tonnes, and Cancelled Warrants were 150725 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1767.26per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE (Shanghai Future Exchange) increased to US$ 2014 per tonne today November 15, 2019.
The most traded SHFE 1912 contract climbed to an intraday high of RMB13,865 per tonne in afternoon trade, before it gave back all those gains to close flat at RMB 13,805 per tonne. The most-active SHFE contract finished at RMB13,685 per tonne with support from RMB13,675 per tonne. The contract is expected to trade between RMB13,675-13,750 per tonne today.
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