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19 SEPTEMBER 2020 AL CIRCLE

Weekly Update: LME aluminium price trended down from $1749/t to $1745/t amid incessant fall in opening stock; SHFE rose to $2160/t

EDITED BY : DEBANJALI SENGUPTA 3MINS READ

Three-month LME aluminium trended down this week during September 14-18 from US$ 1802 per tonne to US$ 1,781 per tonne. Starting the week with a hike of 1.52 per cent to US$ 1,802 per tonne, three-month LME aluminium on Tuesday, September 15, fell 0.47 per cent to settle at US$1,793.5 per tonne. On Wednesday, September 16, it closed further lower at US$ 1,789.50 per tonne, and on Thursday, September 17, at US$ 1,781 per tonne.

LME aluminium price trended down from $1749/t to $1745/t amid incessant fall in opening stock;

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LME aluminium cash (bid) price and LME official settlement price recorded a mere downfall over the week during September 14-18. The prices began the week with two consecutive days of rises from US$ 1746.50 per tonne to US$ 1749 per tonne on Monday and then to US$ 1767 per tonne on Tuesday, September 15. On Wednesday, September 16, both LME aluminium cash (bid) price and LME official settlement price declined to stand at US$ 1759 per tonne. On Thursday, September 17, the prices extended the downfall to stand at US$ 1743.50 per tonne, which, however, on Friday inched up to US$ 1745 per tonne.

3-months bid price and 3-months offer price ranged between US$ 1787.50 per tonne and US$ 1785.50 per tonne during the week. After rising till Tuesday to US$ 1806.50 per tonne, the prices fell to US$ 1798 per tonne on Wednesday, September 16. On Thursday, the prices declined to US$ 1783 per tonne, but increased a bit to US$ 1785.50 per tonne on Friday. Dec 21 bid price and Dec 21 offer price started the week, on September 14, at US$ 1866 per tonne, and ended at US$ 1862 per tonne on September 18. After rising till Tuesday to US$ 1882 per tonne, the prices on Wednesday and Thursday decreased to US$ 1873 per tonne and US$ 1859.50 per tonne, respectively.

The LME aluminium opening stock plunged over the week from 1516500 tonnes to 1504175 tonnes.

Global Aluminium Expo 2020

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE trended up this week from US$ 2131 per tonne on Monday, September 14, to US$ 2160 per tonne on Friday, September 18, with an intermittent decline on Thursday, September 17, from US$ 2147 per tonne to US$ 2139 per tonne. On Tuesday, September 15, the SHFE aluminium price stood at US$ 2146 per tonne, rising from US$ 2131 per tonne. On Wednesday, the price increased a bit further to stand at US$ 2147 per tonne. On Friday, the price closed at US$ 2160 per tonne, following a downfall on Thursday.

Tagged with:

Price LME Inventory

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EDITED BY : DEBANJALI SENGUPTA 3MINS READ

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