Three-month LME aluminium jumped to a four-month high; SHFE aluminium advanced 2.79%
The US dollar edged lower on Monday. LME aluminium inched up less than 0.1% and SHFE aluminium advanced 0.6%.
Three-month LME aluminium jumped to a fresh four-month high of US$1,705 per tonne on Monday. It closed just 0.06% firmer at US$1,690 per tonne. It is likely to move between US$1,670-1,710 per tonne today.
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As of Monday July 13, LME aluminium cash (bid) price stands at US$ 1664.50 per tonne, LME official settlement price stands at US$ 1664.50 per tonne; 3-months bid price stands at US$ 1695.50 per tonne, 3-months offer price is US$ 1695.50 per tonne; Dec 21 bid price stands at US$ 1779 per tonne, and Dec 21 offer price stands at US$ 1779 per tonne.
The LME aluminium opening stock stood at 1674900 tonnes. Live Warrants totalled 1435350 tonnes, and Cancelled Warrants were 239550 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1698.68 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE decreased to stand at US$ 2127 per tonne on Tuesday, 14 July 2020.
The most-liquid SHFE contract rose to a session high of RMB14,860 per tonne, ending up 2.79% on the day at RMB14,730 per tonne on Monday. That was the biggest one-day increase over the past three months.
The contract crept up 0.55% to close at RMB14,730 per tonne in overnight trading. The SHFE August contract is expected to move between RMB14,500-14,900 per tonne today.
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