The US dollar was little changed against a basket of rivals on Monday morning day, holding onto gains from last week. LME aluminium dropped 1.1% and SHFE aluminium stayed flat.
Three-month LME aluminium slid 1.08% to end at its lowest since April 8 at US$1,460 per tonne on Friday. Shanghai Metals Market expects the contract to move at US$1,450-1,490 per tonne today.
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As of Friday May 15, LME aluminium cash (bid) price stands at US$ 1432.50 per tonne, LME official settlement price stands at US$ 1432.50 per tonne; 3-months bid price stands at US$ 1467 per tonne, 3-months offer price is US$ 1467 per tonne; Dec 21 bid price stands at US$ 1596 per tonne, and Dec 21 offer price stands at US$ 1596 per tonne.
The LME aluminium opening stock stood at 1419675 tonnes. Live Warrants totalled at 1185500 tonnes, and Cancelled Warrants were 234175 tonnes
LME aluminium 3-months Asian Reference Price is hovering at US$ 1481.50 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE decreased to stand at US$ 1821 per tonne on Monday, 18 May 2020.
The most-liquid SHFE July contract climbed for the third consecutive day on Friday. It closed at RMB12,600 per tonne, up 0.92% on the da. The SHFE May contract ended with a settlement price of RMB13,035 per tonne, with 68,250 mt of cargoes delivered.
The most active SHFE July contract recovered from earlier losses to close flat at RMB12,560 per tonne on Friday night. The contract is expected to move at RMB12,400-12,800 per tonne today.
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