Three-month LME aluminium fell to its lowest in more than three months at US$1,714/t; SHFE dropped after CNY holidays
The US dollar dropped to two-week lows against a basket its rivals on Friday. LME aluminium price fell to the lowest since 22 October. LME price closed at US$ 1709.5 per tonne on Friday, January 31.
Three-month LME aluminium slipped to its lowest in more than three months at US$1,714 per tonne on Friday, before it recovered some ground to end the trading day 0.2% lower at US$1,725 per tonne. The contract is likely to trade between US$1,700-1,750 per tonne today.
As on Friday January 31, LME aluminium cash (bid) price stands at US$ 1709 per tonne, LME official settlement price stands at US$ 1709.5 per tonne; 3-months bid price stands at US$ 1724 per tonne, 3-months offer price is US$ 1724.5 per tonne; Dec 20 bid price stands at US$ 1855 per tonne, and Dec 20 offer price stands at US$ 1860 per tonne.
The LME aluminium opening stock increased to 1288350 tonnes. Live Warrants totalled 816750 tonnes, and Cancelled Warrants were 471600 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1726.50 per tonne.
SHFE Aluminium Price Trend
Shanghai Futures Exchange resumed trading today after the Chinese New Year holiday. Benchmark aluminium price for SHFE decreased 4.68% from January 23 to US$1956 per tonne on Monday, 03 February 2020.
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