Three-month LME aluminium ended at a 10-week peak; SHFE aluminium shed 1.06%

The US dollar eased further on Tuesday. The dollar index, which gauges the greenback against a basket of major currencies, fell for a sixth straight day and plumbed the lowest since March 13 at 97.4335. LME aluminium climbed 1.4% and SHFE aluminium inched up 0.3%.

Three-month LME aluminium climbed in Northern American trading hours on Tuesday. It ended at a 10-week peak of US$1,559 per tonne, up 1.37% on the day.

As of Tuesday June 2, LME aluminium cash (bid) price stands at US$ 1499.50 per tonne, LME official settlement price stands at US$ 1499.50 per tonne; 3-months bid price stands at US$ 1529 per tonne, 3-months offer price is US$ 1529 per tonne; Dec 21 bid price stands at US$ 1645 per tonne, and Dec 21 offer price stands at US$ 1645 per tonne.

The LME aluminium opening stock stood at 1505550 tonnes. Live Warrants totalled 1295200 tonnes, and Cancelled Warrants were 210350 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1527.53 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE decreased to stand at US$ 1867 per tonne on Wednesday, 03 June 2020.

The most-liquid SHFE July contract hit a session low of RMB13,000 per tonne, before it closed the day 1.06% lower at RMB13,025 per tonne on Tuesday. The most active SHFE July contract erased earlier losses to end 0.27% firmer at a session-high of RMB13,120 per tonne in overnight trading.