Three-month LME aluminium ended the day 0.47% lower; SHFE aluminium retreated 0.4%

The US dollar extended its increase on Thursday. Overnight, LME aluminium fell 0.47% and SHFE aluminium shed 0.65%.

Three-month LME aluminium tested support from the 10-day moving average as it fell from a session high of US$1,615.5 per tonne. It ended the day 0.47% lower at US$1,600 per tonne. LME aluminium is likely to trade at US$1,580-1,610 per tonne.

As of Thursday June 18, LME aluminium cash (bid) price stands at US$ 1586.50 per tonne, LME official settlement price stands at US$ 1586.50 per tonne; 3-months bid price stands at US$ 1608 per tonne, 3-months offer price is US$ 1608 per tonne; Dec 21 bid price stands at US$ 1710 per tonne, and Dec 21 offer price stands at US$ 1710 per tonne.

The LME aluminium opening stock stood at 1610300 tonnes. Live Warrants totalled 1403775 tonnes, and Cancelled Warrants were 206525 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1605.50 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE decreased to stand at US$ 1935 per tonne on Friday, 19 June 2020.

The most liquid SHFE contract for August delivery moved in a tight range during the daytime session. It closed 0.4% lower at RMB13,555 per tonne on Thursday. The contract dipped below RMB13,500 per tonne to a low of RMB13480 per tonne. It closed lower at RMB13,505 per tonne. The contract may trade at RMB13,400-13,800 per tonne.