Three-month LME aluminium extended its decline to a four-year low; SHFE aluminium slipped 1.21%
The US dollar advanced against a basket of major currencies on Wednesday, April 1. The US dollar index was up 0.6% at 99.52. Aluminium extended its decline to a four-year trough and shed 2% on the day. The SHFE kept its night trading session suspended.
Three-month LME aluminium extended its decline and touched a four-year trough of US$1,483.5 per tonne in early North American trading hours. It closed at $1,495 per tonne. Shanghai Metals Market expects the contract to trade at US$1,480-1,530 per tonne today.
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As on Wednesday April 1, LME aluminium cash (bid) price stands at US$ 1463.50 per tonne, LME official settlement price stands at US$ 1463.50 per tonne; 3-months bid price stands at US$ 1498 per tonne, 3-months offer price is US$ 1498 per tonne; Dec 21 bid price stands at US$ 1628.50 per tonne, and Dec 21 offer price stands at US$ 1628.50 per tonne.
The LME aluminium opening stock stood at 1164200tonnes. Live Warrants totalled 1014425 tonnes, and Cancelled Warrants were 149775 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1518.90 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE decreased from US$1631 per tonne to US$1590 per tonne on Thursday, 02 April 2020.
The most-active SHFE June contract ended the contract 1.21% lower on the day at RMB11,445 per tonne. The SHFE 2005 contract is likely to move between RMB10,070-11,700 per tonne.
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