Three-month LME aluminium ended lower on the day at US$1,663/t; SHFE aluminium fell 0.28%
The US dollar was broadly lower last Friday as the euro climbed to close to a four-month high. LME and SHFE base metals traded lower for the most part on last Friday night.
Three-month LME aluminium recovered during the American trading hours after it slipped to a session low of US$1,652 per tonne. It finished lower on the day at US$1,663 per tonne. LME aluminium is likely to trade at US$1,650-1,690 per tonne today.
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As of Friday July 17, LME aluminium cash (bid) price stands at US$ 1618 per tonne, LME official settlement price stands at US$ 1618 per tonne; 3-months bid price stands at US$ 1654.50 per tonne, 3-months offer price is US$ 1654.50 per tonne; Dec 21 bid price stands at US$ 1747.50 per tonne, and Dec 21 offer price stands at US$ 1747.50per tonne.
The LME aluminium opening stock stood at 1664400 tonnes. Live Warrants totalled 1390350 tonnes, and Cancelled Warrants were 274050 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1662.08per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased to stand at US$ 2038 per tonne on Monday, 20 July 2020.
The most-liquid SHFE August contract ended down 0.28% on the day at RMB14,155 per tonne on Friday. The most-active SHFE contract trimmed some decline from last Thursday, finishing at RMB14,265 per tonne last Friday night. The contract is seen trading at RMB14000-14400 per tonne today.
Primary aluminium inventories increase in China after over three months, stocks peg at 712,000t
Next articleUS primary aluminium output stands at 92,000 tonnes in April 2020; secondary recovery decreases 15% YoY
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