Three-month LME aluminium fell to US$2,496/t; SHFE aluminium gained 1.39%
Three-month LME aluminium fell 0.2% to close at US$2,496 per tonne on Monday. SMM expects the contract to trade between US$2,450-2,550 per tonne today.
As of Monday, May 17, LME aluminium cash (bid) price stands at US$ 2455 per tonne, LME official settlement price stands at US$ 2455 per tonne; 3-months bid price stands at US$ 2479 per tonne, 3-months offer price is US$ 2479 per tonne; Dec 22 bid price stands at US$ 2464.50 per tonne, and Dec 22 offer price stands at US$ 2464.50 per tonne.
The LME aluminium opening stock stood at 1768375 tonnes. Live Warrants totalled 1226275 tonnes, and Cancelled Warrants were542100tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 2476.65 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased to stand at US$ 3084 per tonne on Tuesday, 18 May 2021.
The most-liquid SHFE 2106 aluminium contract finished the day 1.39% higher at RMB19,700 per tonne on Monday. The contract rose 0.33% to settle at RMB19,765 per tonne on Monday night. It is likely to trade between 19,700-20,000 today. The contract will try to continue to repair the recent decline due to continuous destocking.
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