The US dollar fell against a basket of major currencies on Tuesday, March 31. LME aluminium closed 0.2% lower overnight. The SHFE kept its night trading session suspended.
Three-month LME aluminium slipped to its lowest since April 2016 at US$1,507 per tonne in the North American trading session. According to Shanghai Metals Market, it closed the day lower at US$1,525.5 per tonne, to produce a monthly decline of 10.3%, the biggest monthly percentage decrease in almost a decade.
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As on Tuesday March 31, LME aluminium cash (bid) price stands at US$ 1489 per tonne, LME official settlement price stands at US$ 1489 per tonne; 3-months bid price stands at US$ 1524 per tonne, 3-months offer price is US$ 1524 per tonne; Dec 21 bid price stands at US$ 1650 per tonne, and Dec 21 offer price stands at US$ 1650 per tonne.
The LME aluminium opening stock stood at 1148750 tonnes. Live Warrants totalled 996925 tonnes, and Cancelled Warrants were 151825 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1531.21 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased from US$1628 per tonne to US$1631 per tonne on Wednesday, 01 April 2020.
The most-active SHFE May contract traded closed 0.13% higher on the day at RMB11,570 per tonne. Expectations of sluggish downstream order both domestically and overseas for April may keep prices under pressure.
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