Three-month LME aluminium increased to close at US$1,529.5/t; SHFE aluminium added 0.85%

The US dollar edged lower against a basket of currencies on Wednesday. LME aluminium closed higher and SHFE aluminium rose 0.9%.

Three-month LME aluminium advanced to US$1,534 per tonne. It closed up 0.5% at US$1,529.5 per tonne. Shanghai Metals Market expects the contract to move between US$1,500-1,540 per tonne today.

As of Wednesday May 27, LME aluminium cash (bid) price stands at US$ 1504per tonne, LME official settlement price stands at US$ 1504 per tonne; 3-months bid price stands at US$ 1527.50 per tonne, 3-months offer price is US$ 1527.50 per tonne; Dec 21 bid price stands at US$ 1638.50 per tonne, and Dec 21 offer price stands at US$ 1638.50 per tonne.

The LME aluminium opening stock stood at 1493775 tonnes. Live Warrants totalled 1269625 tonnes, and Cancelled Warrants were 224150 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1519.50 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE increased to stand at US$ 1859 per tonne on Thursday, 28 May 2020.

The most-liquid SHFE July contract hit a session high of RMB13,040 per tonne and settled it 0.85% higher on the day at RMB13,015 per tonne on Wednesday.

The contract rose to its highest since March 16 at RMB13,090 per tonne in overnight trading. It closed 0.89% at RMB13,080 per tonne. The contract is expected to trade between RMB12,900-13,300 per tonne today.