Adv
LANGUAGES
English
Hindi
Spanish
French
German
Chinese_Simplified
Chinese_Traditional
Japanese
Russian
Arabic
Portuguese
Bengali
Italian
Dutch
Greek
Korean
Turkish
Vietnamese
Hebrew
Polish
Ukrainian
Indonesian
Thai
Swedish
Romanian
Hungarian
Czech
Finnish
Danish
Filipino
Malay
Swahili
Tamil
Telugu
Gujarati
Marathi
Kannada
Malayalam
Punjabi
Urdu
31 AUGUST 2019 AL CIRCLE

Weekly update: LME saw a depressing week on higher dollar and tariff concerns; SHFE traded flat but remained strong

EDITED BY : BEETHIKA BISWAS 2MINS READ

The US dollar index edged up in the beginning of the week after the US and China sought to ease trade war tensions and started with at 98.38. The dollar remained strong over the week. LME base metals traded mostly weaker during the week. SHFE aluminium traded strong due to positive fundamentals.

London Metal Exchange remained closed on August 26, Monday for Summer Bank Holiday. LME aluminium started the week with US$ 1744 per tonne and continued trading downward to reach US$1712.5 per tonne. After the bank holiday on Monday at LME, the three-month LME aluminium gave up all the gains accumulated overnight on Friday and slid to a low of US$1,758.5 per tonne on Tuesday. The contract ended the week at US$1741.50 per tonne after Friday’s closing. 

{alcircleadd}

lme

As on August 30, Friday, LME aluminium cash (bid) price stood at US$ 1712 per tonne, LME official settlement price stands at US$ 1712.50per tonne; 3-months bid price stands at US$ 1741 per tonne, 3-months offer price is US$ 1741.50 per tonne; Dec 20 bid price stands at US$ 1827 per tonne, and Dec 20 offer price stands at US$ 18325 per tonne.

The LME aluminium opening stock dropped to 927000 tonnes. Live Warrants totalled at 677725 tonnes, and Cancelled Warrants were 249275 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1751 per tonne.

SME and SHFE Aluminium Price Trend

The benchmark aluminium price on Shanghai Metal Exchange (SME) performed better than LME and was more or less flat over the week. It started the week at US$ 1991 per tonne and ended it with US$ 1993 per tonne on Friday.  

The SHFE October contract traded robustly over the week with fundamental support though prices remained more or less flat. The contract started the week at RMB 14,215 per tonne. The October contract then advanced to a high of RMB 14,265 per tonne.  Falling social inventories of primary aluminium boosted confidence in longs. Expectations of the upcoming high season demand also supported the price. The October contract then relinquished earlier gains and ended the week at RMB 14,225 per tonne yesterday. 

Tagged with:

Aluminium Price LME China

Adv
Adv
Adv
Adv
Adv
Adv
Adv
EDITED BY : BEETHIKA BISWAS 2MINS READ

Responses

Adv
Adv
Adv
Loading...
Adv
Adv
Adv
Loading...
Reports VIEW ALL
Loading...
Loading...
Business Leads VIEW ON AL BIZ
Loading...
Adv
Adv
Would you like to be
featured with us?
Loading...

AL Circle: Aluminium Ecosystem App

A proud
ASI member
© 2026 AL Circle. All rights reserved. AL Circle is not responsible for content from external sources.