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30 JULY 2020 AL CIRCLE

Three-month LME aluminium hit five-month high of US$1,730/t earlier in the session; SHFE aluminium surged 1.5%

EDITED BY : HEENA IQBAL 2MINS READ

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.

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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.

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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.


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EDITED BY : HEENA IQBAL 2MINS READ

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