Three-month LME aluminium ended at US$1,678.5/t; SHFE aluminium fell 0.72%
The US dollar declined to the lowest level in nearly five weeks. LME aluminium shed 0.24% and SHFE aluminium dropped 1.24%.
Three-month LME aluminium recovered from a session low of US$1,673 per tonne, ending last night at US$1,678.5 per tonne. LME aluminium is expected to trade between US$1,660-1,700 per tonne today.
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As of Wednesday July 15, LME aluminium cash (bid) price stands at US$ 1651per tonne, LME official settlement price stands at US$ 1651 per tonne; 3-months bid price stands at US$ 1686 per tonne, 3-months offer price is US$ 1686 per tonne; Dec 21 bid price stands at US$ 1771.50 per tonne, and Dec 21 offer price stands at US$ 1771.50 per tonne.
The LME aluminium opening stock stood at 1663800 tonnes. Live Warrants totalled 1405725 tonnes, and Cancelled Warrants were 258075 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1685.27per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE decreased to stand at US$ 2042 per tonne on Thursday, 16 July 2020.
The most-liquid SHFE August contract ended it at RMB14,475 per tonne, down 0.72% on the day. The SHFE July contract ended its last trading day and settled at RMB14,785 per tonne, with a delivery volume of 45,425 mt.
The most-active SHFE August contract closed lower on the day at RMB14,305 per tonne. The contract is likely to trade at RMB14,100-14,500 per tonne today.
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