Three-month LME aluminium rose 1.43% to four-week highs; SHFE aluminium added 0.93%
Three-month LME aluminium advanced 1.43% to four-week highs of US$1,635 per tonne on Monday. It is likely to move between US$1,620-1,660 per tonne today.
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As of Monday July 6, LME aluminium cash (bid) price stands at US$ 1593 per tonne, LME official settlement price stands at US$ 1593 per tonne; 3-months bid price stands at US$ 1626 per tonne, 3-months offer price is US$ 1626 per tonne; Dec 21 bid price stands at US$ 1725 per tonne, and Dec 21 offer price stands at US$ 1725 per tonne.
The LME aluminium opening stock stood at 1624775 tonnes. Live Warrants totalled 1416300 tonnes, and Cancelled Warrants were 208475 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1618.05 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased to stand at US$ 2052 per tonne on Tuesday, 07 July 2020.
The most-liquid SHFE August contract climbed to a session high of RMB14,155 per tonne, ending at RMB14,125 per tonne on Monday, up RMB70 per tonne on the day.
The contract notched its highest since January 21 at RMB14,205 per tonne in overnight trading, before ending up 0.64% at RMB14,165 per tonne. The August contract is expected to move between RMB14,000-14,300 per tonne today.
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