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23 SEPTEMBER 2020 AL CIRCLE

Three-month LME aluminium weakened 0.17% to close at US$ 1779/t; SHFE price plunged for the second day in a row

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

As of Tuesday, September 22, Three-month LME aluminium weakened 0.17 per cent to close at US$ 1,779 per tonne after hitting its lowest in nearly two weeks earlier in the session.

Three-month LME aluminium weakened 0.17% to close at US$ 1779/t

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LME aluminium cash (bid) price and LME official settlement price decreased from US$ 1752.50 per tonne to US$ 1744 per tonne on Tuesday, September 22. 3-months bid price and 3-months offer price hovered at US$ 1785.50 per tonne, declining from US$ 1793 per tonne. Dec 21 bid price and Dec 21 offer price stood at US$ 1860.50 per tonne.

The LME aluminium opening stock further plunged to 1493175 tonnes. Live Warrants stood at 1232750 tonnes, while Cancelled Warrants at 260425 tonnes.

LME aluminium 3-months Asian Reference Price came in at US$ 1777.90 per tonne, as of Tuesday, September 22.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE decreased for the second day in a row to stand at US$ 2134 per tonne on Wednesday, September 23.

Global Aluminium Expo 2020

The most-liquid SHFE 2010 aluminium contract fell to an intraday low of RMB 14,520 per tonne and finished the day 0.89 per cent weaker at RMB 14,525 per tonne today. Open interest fell 11,191 lots to 109,000 lots. Aluminium prices and premium both fell amid the sluggish spot market before the National Day holidays, and funds flowed out sharply. The open interests of 2010 contract and the flow of the fund will come under scrutiny.

The most-liquid SHFE 2010 aluminium closed flat at RMB 14,590 per tonne in overnight trading, and is expected to trade between RMB 14,450-14,800 per tonne today, while spot premiums are seen lower at RMB 110-130 per tonne.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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