Three-month LME aluminium trended up this week during November 16-20 by 1.84 per cent. On Monday, November 16, three-month LME aluminium rose 0.96 per cent to stand at US$ 1953 per tonne. On Tuesday, November 17, the price stood at US$ 1982 per tonne further growing by 1.48 per cent. On Wednesday, November 18, it increased marginally by 0.4 per cent to settle at US$ 1990 per tonne, while on November 19, fell 0.05 per cent to come in at US$ 1989 per tonne.
LME aluminium cash (bid) price and LME official settlement price grew this week by US$ 51 per tonne or 2.64 per cent. Starting the week on Monday, November 16 at US$ 1933 per tonne, both LME aluminium cash (bid) price and LME official settlement price climbed to US$ 1944.50 per tonne on Tuesday, November 17, marking a hike for the third consecutive day. On Wednesday, November 18, the prices further increased by 1.72 per cent to stand at US$ 1978 per tonne. On Thursday, November 19, the prices grew again but slower than the previous days by US$ 5 per tonne to come in at US$ 1983 per tonne. On Friday, November 20, LME aluminium cash (bid) price and LME official settlement price hiked even slower by only US$ 1 per tonne to end the week at US$ 1984 per tonne.
3-months bid price and 3-months offer price began the week at US$ 1946.50 per tonne on November 16, which on the subsequent day, November 17, grew to US$ 1961 per tonne. On Wednesday, November 18, 3-months bid price and 3-months offer price extended the growth to come in at US$ 1994 per tonne. On Thursday, November 19, the prices, however, stood almost flat hovering at US$ 1994.50 per tonne. On Friday, November 20, the prices grew but very marginally by US$ 1 per tonne to close at US$ 1995.50 per tonne.
Dec 21 bid price and Dec 21 offer price grew this week from US$ 1978.50 per tonne on Monday to US$ 2014 per tonne on Friday. The LME aluminium opening stock decreased from 1413775 tonnes to 1399525 tonnes throughout the week.
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SHFE Aluminium Price Trend
On Monday, November 16, benchmark aluminium price for SHFE stood at US$ 2378 per tonne, climbing from US$ 2362 per tonne on Friday, November 13. On Tuesday, November 17, the price decreased to US$ 2340 per tonne, but rebounded on November 18 at US$ 2369 per tonne. On Thursday, November 19, SHFE price stood further higher at US$ 2406 per tonne, which on Friday, November 20, closed the week slower at US$ 2403 per tonne.
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