The US dollar slipped to its lowest in more than two weeks against a basket of its peers on Tuesday. LME aluminium retreated 0.8% and SHFE aluminium fell 0.4%.
Three-month LME aluminium dropped 0.77% to end at US$1,488.5 per tonne on Tuesday. Shanghai Metals Market expects the contract to move at US$1,470-1,510 per tonne today.
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As of Tuesday May 19, LME aluminium cash (bid) price stands at US$ 1464 per tonne, LME official settlement price stands at US$ 1464 per tonne; 3-months bid price stands at US$ 1498 per tonne, 3-months offer price is US$ 1498 per tonne; Dec 21 bid price stands at US$ 1623.50 per tonne, and Dec 21 offer price stands at US$ 1623.50 per tonne.
The LME aluminium opening stock stood at 1436575 tonnes. Live Warrants totalled at 1205925 tonnes, and Cancelled Warrants were 230650 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1495.22 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE decreased to stand at US$ 1862 per tonne on Wednesday, 20 May 2020.
The most-liquid SHFE July contract closed1.3% higher at RMB12,850 per tonne on Tuesday. The contract fell to a session-low of RMB12,785 per tonne in early trade overnight. It closed 0.35% lower at RMB12,830 per tonne. The contract is expected to move at RMB12,700-13,000 per tonne today.
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