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18 NOVEMBER 2019 AL CIRCLE

Three-month LME aluminium rebounded on Friday; SHFE aluminium shed 0.4%

EDITED BY : HEENA IQBAL 2MINS READ

The US dollar eased to a one-week low against a basket its rivals on Friday. The US dollar index fell to 97.96, the lowest since November 7, before it ended down 0.19% at 97.987. LME aluminium gained 0.6% and SHFE aluminium shed 0.3%.

LME aluminium declined by 0.85 per cent from Thursday’s close of US$1756 per tonne to end at US$1741 per tonne on Friday, November 15. Three-month LME aluminium on Friday rebounded from a two-week low of US$1733 per tonne to close at an intraday high of US$1757.5 per tonne, up 0.6% on the day. LME aluminium is expected to trade between US$1745-1765 per tonne today. 

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As on November 15, Friday, LME aluminium cash (bid) price stood at US$1740 per tonne, LME official settlement price stands at US$ 1741 per tonne; 3-months bid price stands at US$ 1743 per tonne, 3-months offer price is US$ 1745 per tonne; Dec 20 bid price stands at US$ 1813 per tonne, and Dec 20 offer price stands at US$ 1818 per tonne.

The LME aluminium opening stock increased to 1065175 tonnes. Live Warrants totalled at 916825 tonnes, and Cancelled Warrants were 148350 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1746.57per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE (Shanghai Future Exchange) decreased to US$ 2010 per tonne today November 18, 2019.

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The most traded SHFE 2001 contract fluctuated to close down 0.4% at RMB13,670 per tonne on Friday, lows in nearly five months.The most traded SHFE 2001 contract shed 0.26% to end at RMB13,650 per tonne on Friday night. The contract is expected to trade rangebound between RMB13,650-13,720 per tonne today, with spot premiums of RMB60-100 per tonne over the SHFE 1912 contract.

Tagged with:

LME Price Aluminium China

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EDITED BY : HEENA IQBAL 2MINS READ

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