Three-month LME aluminium ended flat on Thursday; SHFE aluminium advanced to RMB14,725/t
Three-month LME aluminium ended flat at US$1,848 per tonne on Thursday. Shrinking LME aluminium stocks underpinned prices. SMM expects the contract to trade between US$1,830-1,870 per tonne today.
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As of Thursday October 22, LME aluminium cash (bid) price stands at US$ 1828 per tonne, LME official settlement price stands at US$ 1828 per tonne; 3-months bid price stands at US$ 1840 per tonne, 3-months offer price is US$ 1840 per tonne; Dec 21 bid price stands at US$ 1893.50 per tonne, and Dec 21 offer price stands at US$ 1893.50 per tonne.
The LME aluminium opening stock stood at 1481950 tonnes. Live Warrants totalled 1264400 tonnes, and Cancelled Warrants were 217550 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1845 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE decreased to stand at US$ 2204 per tonne on Friday, 23 October 2020.
The most-liquid SHFE 2011 aluminium contract fell to an intraday low of RMB14,700 per tonne and closed up 0.03% at RMB14,725 per tonne on Thursday. Open interest fell 1,064 lots to 120,331 lots.
The contract moved 0.24% lower to settle at RMB14,725 per tonne in overnight trading. The contract is expected to trade between RMB14,500-14,900 per tonne today.
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