Three-month LME aluminium hit five-month high of US$1,730/t earlier in the session; SHFE aluminium surged 1.5%
Three-month LME aluminium hit a new five-month high of US$1,730 per tonne earlier in the session and ended a tad firmer at US$1,727.5 per tonne on Wednesday. Open interest for the contract shrank to 794,000 lots. It is likely to move between US$1,710-1,750 per tonne today.
As of Wednesday July 29, LME aluminium cash (bid) price stands at US$ 1687per tonne, LME official settlement price stands at US$ 1687per tonne; 3-months bid price stands at US$ 1726.50per tonne, 3-months offer price is US$ 1726.50per tonne; Dec 21 bid price stands at US$ 1809per tonne, and Dec 21 offer price stands at US$ 1809per tonne.
The LME aluminium opening stock stood at 1648775 tonnes. Live Warrants totalled 1383225 tonnes, and Cancelled Warrants were 265550 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1725.50 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased to stand at US$ 2131 per tonne on Thursday, 30 July 2020.
The most-active SHFE aluminium 2009 contract finished the day 1.5% higher at RMB14,505 per tonne in chopping trading on Wednesday. The SHFE September contract jumped to a two-week high of RMB14,680 per tonne before closing 1.35% higher at RMB14,655 in overnight trading. The contract is expected to trade between RMB14,400-14,800 per tonne today.
A00 aluminium ingot price jumps by RMB210/t marking the fourth consecutive hike; Alumina spot price continues to plunge
Next articleHindalco’s aluminium ingot price stands at INR 145,250 per tonne with effect from July 30
Grow with
AL Circle
