LME aluminium price closed 2.64% higher this week at $1984/t after a dip in the previous week; SHFE grew to $2403/t

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.

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.