The US dollar declined on Wednesday. The dollar index, which tracks the greenback against a basket of other currencies, dipped 0.02% and ended at 99.501. LME aluminium went flat and SHFE aluminium advanced 1%.
Benchmark aluminium price on London Metal Exchange dropped 0.07% per cent to US$ 1464 per tonne on Wednesday from US$ 1465 per tonne on Tuesday.
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As of Wednesday, April 29, 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$ 1504 per tonne, 3-months offer price is US$ 1504 per tonne; Dec 21 bid price stands at US$ 1629.50 per tonne, and Dec 21 offer price stands at US$ 1629.50 per tonne.
The LME aluminium opening stock stood at 1346775 tonnes. Live Warrants totalled 1196625 tonnes, and Cancelled Warrants were 150150 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1507.21per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased to stand at US$ 1800 per tonne on Thursday, 30 April 2020.
SHFE June contract hit an intraday high of RMB12,700 per tonne before prices ended at RMB12,585 per tonne, 1% higher on the day. Shanghai Metals Market expects the contract to trade between RMB12,500-12,700 per tonne today.
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