Three-month LME aluminium dropped to a three-week low at US$1,793 per tonne on Thursday, closing 0.41% lower at US$1,804 per tonne. SMM expects the contract to trade between US$1,790-1,830 per tonne today.
As of Thursday October 29, LME aluminium cash (bid) price stands at US$ 1786 per tonne, LME official settlement price stands at US$ 1786 per tonne; 3-months bid price stands at US$ 1795.50 per tonne, 3-months offer price is US$ 1795.50 per tonne; Dec 21 bid price stands at US$ 1843.50 per tonne, and Dec 21 offer price stands at US$ 1843.50per tonne.
The LME aluminium opening stock stood at 1462750 tonnes. Live Warrants totalled 1216650 tonnes, and Cancelled Warrants were 246100 tonnes.
LME aluminium 3-months Asian Reference Price is hovering at US$ 1815 per tonne.
SHFE Aluminium Price Trend
Benchmark aluminium price for SHFE increased to stand at US$ 2186 per tonne on Friday, 30 October 2020.
The contract fell to a session low of RMB14,250 per tonne after opening, finishing the day 0.17% higher at RMB14,440 per tonne on Thursday. The most-liquid SHFE 2012 aluminium contract closed 0.17% firmer at RMB14,385 per tonne in overnight trading. It is likely to move between 14,200-14,600 today.
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