LME aluminium price continued to hike for the third consecutive day to settle at $1944.5/t; SHFE closed higher at $2369/t

Three-month LME aluminium rose 1.48 per cent to close at US$ 1982 per tonne on Tuesday, with open interest falling to 743,000 lots. It is expected to trade between US$ 1950-2000 per tonne today. 

Both LME aluminium cash (bid) price and LME official settlement price continued to record a hike on Tuesday, November 17, for the third day in a row to stand at US$ 1944.50 per tonne. 3-months bid price and 3-months offer price stood at US$ 1961 per tonne, growing by US$ 14.50 per tonne from US$ 1946.50 per tonne. Dec 21 bid price and Dec 21 offer price came in at US$ 1989.50 per tonne versus US$ 1978.50 per tonne on Monday, November 16.

The LME aluminium opening stock increased from 1413775 tonnes to 1416700 tonnes on November 17. Live Warrants hovered at 1261550 tonnes, while Cancelled Warrants at 155150 tonnes.

LME aluminium 3-months Asian Reference Price stood at US$ 1950.50 per tonne, as of November 17.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE increased to stand at US$ 2369 per tonne on Wednesday, November 18, following a decline from US$ 2378 per tonne to US$ 2340 per tonne on November 17.

The most-liquid SHFE 2012 aluminium contract fell 0.52 per cent to end the day at RMB 15,390 per tonne, with open interest falling 3580 lots to 151,000 lots. Support below may be seen between RMB 15,000-15,200 per tonne tonight.

The most-liquid SHFE 2012 aluminium contract climbed 0.78 per cent to settle at RMB 15,510 per tonne on Tuesday night, and is likely to trade between RMB 15,300-15,700 per tonne today.