Three-month LME aluminium closed 2.23% higher at US$1,699.5/t; SHFE aluminium edged up 0.04%

Three-month LME aluminium notched its highest since July 13 at US$1,702 per tonne on Tuesday. It ended 2.23% higher at US$1,699.5 per tonne. It is likely to move at US$1,680-1,720 per tonne today.

As of Tuesday July 21, LME aluminium cash (bid) price stands at US$ 1646.50 per tonne, LME official settlement price stands at US$ 1646.50 per tonne; 3-months bid price stands at US$ 1682.50 per tonne, 3-months offer price is US$ 1682.50 per tonne; Dec 21 bid price stands at US$ 1768.50 per tonne, and Dec 21 offer price stands at US$ 1768.50 per tonne.

The LME aluminium opening stock stood at 1652200 tonnes. Live Warrants totalled 1383850 tonnes, and Cancelled Warrants were 268350 tonnes.

LME aluminium 3-months Asian Reference Price is hovering at US$ 1670.38 per tonne.

SHFE Aluminium Price Trend

Benchmark aluminium price for SHFE increased to stand at US$ 2063 per tonne on Wednesday, 22 July 2020.

The most-traded SHFE August aluminium contract climbed to a single-day high of RMB14,285 per tonne in the afternoon, and closed at RMB14,245 per tonne on Tuesday. Low inventories and tight supply still support aluminium prices.

The most-active SHFE August contract hit a session-high of RMB14,440 per tonne in overnight trading, ending 1.05% higher at 14,395. The contract is expected to trade at RMB14,200-14,600 per tonne today.