Three-month LME aluminium finished 0.2% lower; SHFE aluminium jumped 1.5%
The US dollar rose on Wednesday. The dollar index, which tracks the greenback against a basket of other currencies, rebounded 0.71% to end at 99.573. Overnight, LME base metals failed to hold onto gains from Tuesday. LME aluminium fell 0.2% while SHFE aluminium jumped 1.5%.
Three-month LME aluminium relinquished early gains after a strengthened SHFE aluminium lifted it to a session high of US$1,529 per tonne. It closed at US$1,516 per tonne, down 0.2% on the day. Shanghai Metals Market expects the contract to trade at US$1,490-1,520 per tonne today.
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As of Wednesday, April 15, LME aluminium cash (bid) price stands at US$ 1469.50per tonne, LME official settlement price stands at US$ 1469.50 per tonne; 3-months bid price stands at US$ 1507.50 per tonne, 3-months offer price is US$ 1507.50 per tonne; Dec 21 bid price stands at US$ 1640.50 per tonne, and Dec 21 offer price stands at US$ 1640.50 per tonne.
The LME aluminium opening stock stood at 1261550 tonnes. Live Warrants totalled 1136075 tonnes, and Cancelled Warrants were 125475 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1517.70 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE stood at US$ 1693 per tonne on Thursday, 16 April 2020.
The most-traded SHFE June contract hit its highest since March 20 at RMB12,015 per tonne in afternoon trade. It then closed 1.53% higher at RMB11,950 per tonne. The SHFE April contract settled at RMB11,905 per tonne to finish its last trading day.
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